Plus, Toronto's high risk of a housing bubble, and what a leaked report says about Ontario health care [The Star] First Up [By Manuela Vega] By Manuela Vega Good morning. Apologies for landing in your inbox late this morning. Here’s the latest on Toronto’s housing crisis topping an international risk list, scandal amid Patrick Brown’s re-election campaign and what a leaked report reveals about the state of Ontario emergency rooms. DON’T MISS
Paige Taylor White/The Star unreal estate [Toronto has the highest housing bubble risk in the world]( Ranking 25 major world cities on the risk of a market collapse, a new report from Swiss Bank UBS is warning that Toronto is in the most danger, Fares Alghoul reports. In fact, two Canadian municipalities — hello, Vancouver — are designated as the most at-risk cities in all of North America. “The index has been flashing warning signals in the last couple of years,” the report said. [Here’s what we know about the factors that brought us here](.
- Context: A bubble occurs when local housing prices soar — due to high demand and speculation — to the point that they are unsupported by underlying economics.
- By the numbers: House price levels in Toronto and Vancouver “have more than tripled in the last 25 years,” according to the UBS Global Real Estate Bubble Index.
- Now what? Home prices will drop another 3.5 per cent by the end of the year, Royal LePage forecasts. [Take a closer look at how the market has fluctuated this year](.
- But wait, there’s more: Despite prices falling, [here’s why buying a home in Toronto has never been more unaffordable](.
- Meanwhile: A company that vowed to buy $1 billion in houses across Canada has now put several properties up for sale. [Here’s what we know](.
Steve Russell/The Star municipal politics [Patrick Brown has survived more than a few scandals — will this latest controversy finally sink him?]( As he runs for re-election, the mayor of Brampton is being accused — yet again — of impropriety, this time for what one opponent is calling a “coverup” after he shut down a forensic audit. The audit had found “unfair advantage” was given when the city awarded contracts to two firms, one with ties to Brown and another with ties to a city councillor. Noor Javed and Kristin Rushowy report on the four years of chaos at city council and the [confidential reports that indicate auditors raised numerous questions about transparency and favouritism](.
- Point: Brown’s supporters see him as someone who connects communities, breaks down barriers and who has brought national attention to Brampton.
- Counterpoint: Brown’s detractors accuse him of questionable practices, from being ejected from the federal Conservative leadership race for campaign finance irregularities (which Brown denies) to concerns about contract procurements in Brampton.
- Meanwhile: The mayor’s first term is ending with a deeply divided council and a plea from his opponents for provincial intervention.
Paige Taylor White/The Star health care [A leaked report shows soaring number of patients waiting in Ontario hospital emergency rooms]( This August, an average 884 patients were waiting in emergency rooms across the province for in-patient beds — that’s up 53 per cent compared to August 2021. Nine out of 10 patients waited about 4.9 hours to be assessed by a doctor, 50 per cent longer than at the start of the pandemic, Rob Ferguson reports. Those are just some of the troubling figures revealed in a leaked report obtained by the provincial Liberals. [Here’s how Doug Ford’s government is defending itself — and why the Liberals say the province needs to be more transparent](.
- More: The last few months have seen a series of temporary hospital ER closures, brought on mainly by staff shortages.
- Go deeper: According to the report, time to unload ill patients from ambulances rose despite lower levels of emergency room visits and ambulance calls, suggesting people may be avoiding emergency departments to avoid long wait times. WHAT ELSE The International Monetary Fund is warning 2023 will “feel like a recession.” [Here’s why it says the worst is yet to come](. Pierre Poilievre is revealing his priorities with what he calls an [“inflation-busting” shadow cabinet](. As a civil liberties group says the government must prove using the Emergencies Act was necessary, [here’s how Trudeau defended the move](. The Competition Bureau is probing RBC over allegations [it’s exacerbating the climate crisis despite saying it’s taking steps to reduce emissions](. Why does it take so long to pick up snow and fallen trees in Toronto? [Can’t we do better?]( Toronto health inspectors found [major infractions at these four restaurants this past week](. The world’s biggest carbon-emissions cutters also made money. [“If they can do it, anyone can.”]( After a summer of chaos, [Pearson airport plans on hiking its user fees to a new high in 2023](. Explainer: [These are the issues in the stalled Ontario education workers’ bargaining](. “We don’t wear heels in the Arctic.” [How Inuit model Willow Allen uses TikTok to showcase life in the north](. Conspiracy theorist Alex Jones has been [ordered to pay $965 million to families for promoting Sandy Hook lies](. ‘American Idol’ finalist Willie Spence has [died in a vehicle crash](. POV
Canadian Press/Chad Hipolito [Are new provincial demands for power just the same old Ottawa-bashing — or something darker?]( CLOSE-UP
Paige Taylor White/The Star SIMCOE: Innisfil Mayor Lynn Dollin and South Simcoe Police officers listen as Chief John Van Dyke updates the media on the shocking “exchange of gunfire” at an Innisfil home Tuesday night that killed Const. Morgan Russell, 54, and Const. Devon Northrup, 33. [As the community grieves, here’s what we know about the investigation into their deaths](. Thanks for reading. You can reach me and the First Up team at [firstup@thestar.ca](mailto:firstup@thestar.ca?source=newsletter&utm_source=ts_nl&utm_medium=emailutm_email=6C53B63A8E3FAD70AD4EF13004527437&utm_campaign=frst_149183). I’ll see you back here tomorrow. If you're not enjoying these emails, please tell us how we can make them better by emailing newsletterfeedback@thestar.ca. Or, if you'd prefer, you can unsubscribe from this newsletter by clicking the first link below. [Unsubscribe From This Newsletter]( [Sign Up for More Newsletters and Email Alerts]( [Become a Star Subscriber]( [View in Browser]( [Facebook]( [Instagram]( [Twitter]( Toronto Star Newspapers Limited.
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