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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html" F U A0 F$ P: ?5 h5 ?
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WE ARE PETRO-CANADIANS
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Due to the climate of political correctness now pervading Canada, Albertans will no longer be known as "Rednecks." ; {# f) y! K4 x# y2 H
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We must now be referred to as "Petro-Canadians."
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2 ~8 v" I( {; s6 ]- G2 x$ h* hWHY SELL NOW? 7 I0 T& h) i/ W1 j. D+ q/ k
@# k4 d% m1 ~) Z; n' HIf 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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% u* w) S, `* g+ q6 a4 C- B& fIf I was thinking of selling, I'd hold off until 2008 or 2010. 9 R* B. t2 j/ A, F: f" \1 u* F
! K% z4 v0 |* t/ PHouse prices, with a few peaks and valleys along the way, will continue to increase. 2 c# L# `/ Q# Q
6 U, J" h- m0 Y# |( WWe don't quite get it.
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We're squat in the middle of the greatest industrial boom in the freakin' world! 3 c' _6 t, v! I: E
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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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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.
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/ z/ `; y+ S& Q2 w2 dUpgraders and big oilsands mining projects each require workforces of 5,000 to 6,000 to build over a two-year period. ' H& O" m% g1 w
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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.
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" B" R2 H6 D' YEvery 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. 2 s* _# G# p& }/ t: n7 x0 Z% v. m' I
- O7 [& d7 b* G+ \$ N# r6 K" s0 kStricter environmental safeguards will increase the cost of production, but won't severely slow it down.
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4 V' x6 o s6 p) ]! qAnd all those skilled tradesfolks, coming with their families, have to live somewhere. ' K: h9 O/ ]7 r6 b9 c- ?6 v
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House prices will go nowhere but up. |
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