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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html
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( F# J8 c. w( @" EWE 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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We must now be referred to as "Petro-Canadians."
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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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E! G0 n2 Z4 M* i1 wIf I was thinking of selling, I'd hold off until 2008 or 2010. - v8 {! p/ t; h2 {1 {. T
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House prices, with a few peaks and valleys along the way, will continue to increase.
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l& y3 U6 Y; q' B, Z, |We don't quite get it.
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% o y2 O9 x9 m" E: h8 V5 \We're squat in the middle of the greatest industrial boom in the freakin' world!
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* c& q' ]. ?6 U* oIn the oilsands, including mining projects and upgraders, the government lists 52 planned projects in its Inventory of Major Alberta Projects website. Average price: $3 billion per project.
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Even with huge slowdowns, at least half those projects will happen. The bitumen upgraders in Strathcona and Sturgeon counties are just starting. Nine proposed upgraders are listed on that website.
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Upgraders and big oilsands mining projects each require workforces of 5,000 to 6,000 to build over a two-year period. # t6 g% X8 Z! a# v0 M6 `( Z# Y
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Tradesmen will pour into northern Alberta over the foreseeable future. The numbers of expected newcomers range from 3,000 to 10,000 per year, with a multiplier effect all over the region. * @6 N( o- u3 t: U* w
: x" m1 l1 b8 x# i$ bEvery 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. 8 q' @( X T8 B8 W) \) [
8 Q) B; E! J: Q. B, kStricter 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. , B' m: M4 d% _) y4 u7 L# e2 J
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House prices will go nowhere but up. |
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