Canada Mortgage and Housing Corporation is predicting home prices and sales will fall from last year's levels by December.
But the federal housing agency says the declines won't blunt much of the market's heat.
Chief economist Bob Duggan says home ownership will be less affordable in the near-term because of higher mortgage rates and high price levels.
He also expects rental affordability will likely decline as well.
On Wednesday, Surrey RCMP received a report that a man was masturbating in the pathway behind a townhouse complex located in the 6400-block of 168 Street. The man jumped a fence entering the backyard of one of the units, and then used a flashlight to capture the attention of the residents before shining the light on his exposed genitalia.
Upon police arrival, officers located a body of a man. During the search of the home, police also found a drug lab. Early indications suggest that this incident is targeted, and the public is not at risk.
Canada's Department of National Defence said the balloon's movements were being actively tracked by the North American Aerospace Defence Command, which is responsible for monitoring airborne threats to the continent.
The meeting will focus on the economic situation both domestically and globally, according to a federal source with knowledge of the gathering, including discussions on how to provide incentives and supports to be competitive with the U.S.'s Inflation Reduction Act.
Fisheries and Oceans Minister Joyce Murray and Environment Minister Steven Guilbeault are both to attend the IMPAC5 conference, joining thousands of delegates from 123 countries. Conference sessions begin Saturday and will last through the week.
In scores of cities and towns, government and private agencies were scrambling to provide shelter for vulnerable people as the wind was expected to make the temperature feel like -40 C to -50 C in many areas.