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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html5 u# h, L% ]7 K# P; B( a
7 z/ [$ Y$ P# t8 J6 F i6 VWE ARE PETRO-CANADIANS
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* a1 T7 _, _# S! X, sDue 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." ! _) ?7 i. i$ |
$ u' u1 o/ G P2 |6 PWHY 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. 0 Y6 J- j. T, m. u6 H
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If I was thinking of selling, I'd hold off until 2008 or 2010. ; Q) ? L+ G7 O& W J2 ]7 u6 n! s3 k1 K
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House prices, with a few peaks and valleys along the way, will continue to increase.
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Q( f2 l( N# {/ \: i( L; H# Q& O% F* AWe don't quite get it.
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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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7 ?; b3 ^- e+ rTradesmen 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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* {) T" s- A6 `* x# qEvery 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 z9 `5 x6 ?7 b7 T; o8 b9 Q# S
$ r8 M; Z2 A( S0 N# g: U/ \Stricter 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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House prices will go nowhere but up. |
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