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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html
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WE ARE PETRO-CANADIANS % s5 }* f! S& }3 s. D
& J+ }9 T& P; B$ O3 a3 U+ cDue to the climate of political correctness now pervading Canada, Albertans will no longer be known as "Rednecks." 6 p; m \0 _$ d5 d$ U3 `# z
/ b+ ?$ f0 n& M4 h7 ^' H6 q. G+ Z- AWe must now be referred to as "Petro-Canadians."
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WHY SELL NOW? ! i+ Z& o: @& n5 R) S
7 w. W* \' @3 C/ d& aIf 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. : |1 V5 D$ v7 R- k% M
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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.
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- Q$ o# q- {, @* Z' LWe're squat in the middle of the greatest industrial boom in the freakin' world!
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( A1 I8 d* Q3 x( d4 h- B! B3 L) o: U( bIn 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. 9 ]8 h4 o7 T& ^. q
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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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1 g7 u% N5 {: ~; K6 l/ @& p) `7 jTradesmen 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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- k F4 A8 d6 ~Every expert in the world says oil prices will not collapse, due to world-wide demand. The price might drop by $10 per barrel, but oil- sand operations can still make a profit at those levels.
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Stricter environmental safeguards will increase the cost of production, but won't severely slow it down.
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0 \' ^0 j, U- X6 kAnd all those skilled tradesfolks, coming with their families, have to live somewhere.
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3 z/ @$ G; |$ X% J# s4 WHouse prices will go nowhere but up. |
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