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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html% v9 S4 O, j5 s
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WE ARE PETRO-CANADIANS ) {2 ^, [+ \! Z/ q
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Due to the climate of political correctness now pervading Canada, Albertans will no longer be known as "Rednecks." ! k4 W" _- c) t2 \ e
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We must now be referred to as "Petro-Canadians." . C3 U! @9 [8 O4 \; Q
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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.
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House prices, with a few peaks and valleys along the way, will continue to increase.
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We don't quite get it. 1 M5 H3 n2 H* a3 y
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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.
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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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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. . `: r) u( w8 C' O% |
1 ~- C; m% l: g8 NEvery expert in the world says oil prices will not collapse, due to world-wide demand. The price might drop by $10 per barrel, but oil- sand operations can still make a profit at those levels.
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; F7 M& H* O1 d, O+ eStricter environmental safeguards will increase the cost of production, but won't severely slow it down. 2 R: Q- H* k9 e3 ^( _& j# ^! j5 A
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And all those skilled tradesfolks, coming with their families, have to live somewhere.
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( D/ T6 W$ D. k# b, pHouse prices will go nowhere but up. |
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