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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html0 V* C; E3 e, X2 d( s, O
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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."
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2 G- H& B9 e: C, L$ \% U5 {, Z- |We must now be referred to as "Petro-Canadians."
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WHY SELL NOW? 6 g+ x" E8 l# l- I
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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. 7 Q1 ]* W) U+ w0 P4 o9 ?
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If I was thinking of selling, I'd hold off until 2008 or 2010. % [: m+ Y6 C: y+ C
6 R$ n4 {5 C( aHouse prices, with a few peaks and valleys along the way, will continue to increase. 4 L( [4 G9 W& P! g, n
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We don't quite get it. b6 B0 A& B+ ?
' W; | e# o: q+ ~! c/ O$ gWe're squat in the middle of the greatest industrial boom in the freakin' world! ; J4 R6 n! ~( D6 Y3 e
: {6 X! U7 |0 P2 f9 [9 {In the oilsands, including mining projects and upgraders, the government lists 52 planned projects in its Inventory of Major Alberta Projects website. Average price: $3 billion per project. , {( @* h, Y5 J/ x6 w# g
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Even with huge slowdowns, at least half those projects will happen. The bitumen upgraders in Strathcona and Sturgeon counties are just starting. Nine proposed upgraders are listed on that website. % M" [+ y$ u. j$ b. _0 ^- P
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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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( s+ Z' |, j, g1 ^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. 0 L% L9 S+ j/ i: l: [% ?
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Every expert in the world says oil prices will not collapse, due to world-wide demand. The price might drop by $10 per barrel, but oil- sand operations can still make a profit at those levels. 1 V# w0 h5 G2 c: c" s4 g' w5 z# I
/ L# w$ n$ t6 f- WStricter environmental safeguards will increase the cost of production, but won't severely slow it down. 4 }+ m4 l% ?# H% z s
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And all those skilled tradesfolks, coming with their families, have to live somewhere.
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, [* w& `1 [& i7 y) Y, ^) NHouse prices will go nowhere but up. |
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