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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html6 y" c2 f" ?7 o& K9 J6 f" l$ V7 C) f
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WE ARE PETRO-CANADIANS
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3 ?2 s d8 y& E0 b7 Y: EDue to the climate of political correctness now pervading Canada, Albertans will no longer be known as "Rednecks." / |4 ?$ A. o6 M5 V8 b: ^0 P
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We must now be referred to as "Petro-Canadians."
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, f3 V$ T9 q6 ^- X7 K |WHY SELL NOW?
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If I didn't own a house in Edmonton, I'd buy right now, with the current 10% dip in prices that have doubled in the past three years.
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If I was thinking of selling, I'd hold off until 2008 or 2010. : I" f: W* |5 l1 q- R4 U
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House prices, with a few peaks and valleys along the way, will continue to increase.
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0 M9 Z, M% u R$ RWe don't quite get it. + }5 V$ V6 @: M$ d
" X) }! V# C4 E, uWe're squat in the middle of the greatest industrial boom in the freakin' world! ! h0 x& F& T" G& p
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In the oilsands, including mining projects and upgraders, the government lists 52 planned projects in its Inventory of Major Alberta Projects website. Average price: $3 billion per project.
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. {+ B/ r! k0 {; @Even with huge slowdowns, at least half those projects will happen. The bitumen upgraders in Strathcona and Sturgeon counties are just starting. Nine proposed upgraders are listed on that website. 3 @$ a( \, B% q) k% W8 A" b E
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Upgraders and big oilsands mining projects each require workforces of 5,000 to 6,000 to build over a two-year period.
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Tradesmen will pour into northern Alberta over the foreseeable future. The numbers of expected newcomers range from 3,000 to 10,000 per year, with a multiplier effect all over the region. ( m* H% c6 c' J" R: R! K
9 E8 s+ N$ ?" X; X7 HEvery expert in the world says oil prices will not collapse, due to world-wide demand. The price might drop by $10 per barrel, but oil- sand operations can still make a profit at those levels. 9 d8 [3 m6 O/ T# o
- K7 D+ X3 c7 L5 vStricter environmental safeguards will increase the cost of production, but won't severely slow it down. ( y. K! z% e/ Q! i8 H
. H/ ]0 S* k& u& lAnd all those skilled tradesfolks, coming with their families, have to live somewhere.
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House prices will go nowhere but up. |
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