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Archived Articles
Simeon Mitropolitski is a Canadian analyst, of Bulgarian origin, and a former syndicated columnist with the Bulgarian News Agency (BTA). He is the author of several hundred articles dealing with hot political and economic topics, both national and international.
He was part of the first group of Bulgarian intellectuals and students that began the opposition movement that finally put an end to the communist regime in this country in 1989, and in 1996-1997 participated in international observation teams during the elections in several Balkan countries - Romania, Albania and Bulgaria.
In 2002 Simeon and his family moved from Bulgaria to Canada where they live now in Montreal, province of Quebec. Simeon is a Master of Political Science from McGill University and a B.A. of Political Science and History.
Global Real Estate Project
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Canada: Affordability 2005Soft landing in the center, boom in the peripheries
The beginning of 21st century in Canada was golden age for the real estate investors and the sellers alike. By the same token it was nightmare for the first homebuyers and tenants. The prices have skyrocketed and in some provinces they have approached the half-million-dollar mark. There were many reasons why the trends were so good for the sellers. After years of stagnant markets in early and mid-1990s, the economy has been unleashed following the strong export demands. For Quebec this was a relatively peaceful time following the second unsuccessful bid for independence in 1995. The stock exchange burst in 2000 made the real estate the best performing investment alternative. The low interest rates made the rest, attracting to the market hundreds of thousands of first homebuyers. As a result the housing affordability, measuring the percentage of household expenditures going to pay for the property, has suffered in almost any province. The central provinces Quebec and Ontario now show signs of buyers' weariness. Especially in Montreal, where the prices are still well below the levels in Toronto and Vancouver, the mushrooming new developments, many ready for occupation this spring, had impeded the sellers to play on their terms. Unlike Toronto there are not so many new comers in Montreal and the main island is losing up to 20,000 persons each year relocating toward more affordable suburbs, some of which are located at reasonably close distance from the city downtown. Even in Toronto where the large waves of migrants offer seemingly inexhaustible source of new buyers the market seems not ready to make another big jump up in the near future. Different trends occur far from the central regions. Alberta in the West is continuing attracting thousands of migrants because of the booming energy sector. British Columbia isn't falling far behind, offering unique opportunity for a temperate climate during the harsh Canadian winters. Surprisingly enough given the economic history of the region the Atlantic Provinces show good economic performances. On the other hand, they start at lower price levels.
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Housing starts in May 2005 compared to April 2005--------
Detached bungalow average price (Canadian dollars) and Housing affordability (%) --------------------
See also the directory of companies providing real estate services in, and general real estate information of Canada.
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