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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html0 e' o- G$ a% g4 }8 H" l
# v2 X2 @: v* T: N7 eWE ARE PETRO-CANADIANS
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8 q. V! \$ o0 n$ ?7 XDue 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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; T; G8 U$ g, rWHY SELL NOW? ! O9 a3 g9 w" ?' k# \
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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. 2 l$ A. T1 I6 z( h( @- P& F
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If I was thinking of selling, I'd hold off until 2008 or 2010. ; r% l3 N+ a3 J) \
% Q$ N# b$ m$ A8 jHouse prices, with a few peaks and valleys along the way, will continue to increase.
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6 ?6 O; r( ?( tWe don't quite get it. 7 Z2 z! X2 X* a9 S
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We're squat in the middle of the greatest industrial boom in the freakin' world! * t$ v% Q* G. P* l
* d6 X7 W. S; o0 ~- F8 F |3 h6 Z9 f6 hIn 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. . V8 |, c" W" l; @" E3 T# M
4 v9 M, i9 K, S+ `& }0 L" tEven 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. + ^7 U/ h; Q2 S9 v, l! w+ o
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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. ! f( {! E/ ?" o/ u0 B, H; v; v
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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.
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. K; u# K6 x; z+ N8 r: x+ j# Z1 xStricter 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. ' _+ k; z9 r2 S" E
$ A! D0 X8 c J6 b3 KHouse prices will go nowhere but up. |
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