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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html
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4 B% o9 g/ D1 ?+ P8 _: ]WE ARE PETRO-CANADIANS R% N. o$ P4 n& u( [+ ]
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Due to the climate of political correctness now pervading Canada, Albertans will no longer be known as "Rednecks." ( M- t0 U# v: j+ w
& T2 d8 I. e5 hWe must now be referred to as "Petro-Canadians."
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WHY SELL NOW? X& ?1 R4 T1 D8 h0 T
+ o2 Y; ~: q! eIf 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. q8 ^5 [4 @+ z3 ]3 x- j
! }8 [, w2 P' J& c* QHouse prices, with a few peaks and valleys along the way, will continue to increase. 8 Z9 j, G, q8 J. ^+ Z5 h
; l- a$ x. ?- k' }9 PWe don't quite get it.
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- d. G% ^& ^" i0 x( y- u- D% e& K4 o) ]We're squat in the middle of the greatest industrial boom in the freakin' world!
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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: $3 billion per project. , m4 ]8 ? ^: o3 ?1 ~+ ^
; _- o s' j* l$ D$ I$ mEven 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. , i% X2 Y: p: G' d
, E* n }: }1 d* N$ H" SUpgraders 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. . T) P% v# T) O( h. `% f3 k# F
4 V0 R0 t4 s, V+ O) uEvery expert in the world says oil prices will not collapse, due to world-wide demand. The price might drop by $10 per barrel, but oil- sand operations can still make a profit at those levels. 7 v6 r: f) r) ]7 f3 d% x
+ m* b4 E* j% |" y% pStricter environmental safeguards will increase the cost of production, but won't severely slow it down.
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And all those skilled tradesfolks, coming with their families, have to live somewhere.
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/ w' u0 o$ w/ l& `House prices will go nowhere but up. |
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