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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html+ G, S( P' \' X% ]) b# s; h0 b
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WE ARE PETRO-CANADIANS
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, H$ s; \* N9 Y f% sDue to the climate of political correctness now pervading Canada, Albertans will no longer be known as "Rednecks."
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( o4 w5 i2 A: r; k n, y4 q' [We must now be referred to as "Petro-Canadians." 9 r" g8 G X* q. i
" W2 N8 \* S3 N0 f) X W2 j' UWHY SELL NOW? - o) {3 |# O8 F W+ y" P
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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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7 e, }2 Z3 T! V3 WHouse prices, with a few peaks and valleys along the way, will continue to increase.
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5 D* E" ~, A1 e- \ V [8 f/ B: W8 lWe don't quite get it.
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We're squat in the middle of the greatest industrial boom in the freakin' world! ! I# Q) D8 E/ y7 E o5 k' K! h
, B# S; Q2 w" J! cIn the oilsands, including mining projects and upgraders, the government lists 52 planned projects in its Inventory of Major Alberta Projects website. Average price: $3 billion per project.
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) a2 z6 I) `4 vEven with huge slowdowns, at least half those projects will happen. The bitumen upgraders in Strathcona and Sturgeon counties are just starting. Nine proposed upgraders are listed on that website.
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Upgraders and big oilsands mining projects each require workforces of 5,000 to 6,000 to build over a two-year period.
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! x4 p# v$ A# @; ]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. $ W2 ^; V) U2 ?4 ^# i
5 p4 `% t: j, U/ iEvery expert in the world says oil prices will not collapse, due to world-wide demand. The price might drop by $10 per barrel, but oil- sand operations can still make a profit at those levels. 2 g+ B. T7 r4 A9 n( D
0 W' c" Z! W5 `6 {3 ~" CStricter environmental safeguards will increase the cost of production, but won't severely slow it down.
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7 J- Y* @2 N2 VAnd all those skilled tradesfolks, coming with their families, have to live somewhere.
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* }( L s" ^0 [$ V1 P3 PHouse prices will go nowhere but up. |
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