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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html
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1 z V, R) j! B6 OWE ARE PETRO-CANADIANS 3 b7 ?6 v7 @% e7 w" s, U
9 @- h4 _$ e) v; i8 k2 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." # _9 e: Z E- k* W" e: t6 {$ y6 X/ l
f! {! H0 {' LWHY SELL NOW? $ S5 y! v" R. u4 s$ W$ @
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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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House prices, with a few peaks and valleys along the way, will continue to increase. 3 V4 G! u" E# _* N* R0 R+ H* I
7 F; K' M# I4 w9 T jWe don't quite get it. 7 F9 F9 z" C4 O: S5 K8 d9 q
% g; d; ?0 {6 N: zWe'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: $3 billion per project.
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6 i" x1 H6 s! D0 PEven with huge slowdowns, at least half those projects will happen. The bitumen upgraders in Strathcona and Sturgeon counties are just starting. Nine proposed upgraders are listed on that website.
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Upgraders and big oilsands mining projects each require workforces of 5,000 to 6,000 to build over a two-year period. + I/ b: [( P- p6 U9 A
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Tradesmen will pour into northern Alberta over the foreseeable future. The numbers of expected newcomers range from 3,000 to 10,000 per year, with a multiplier effect all over the region. , v# U9 o' ^( Q/ ^$ x) E, K
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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. 7 u2 V" H+ C- \9 p) q a
: C' {. a/ E8 E2 @, q7 f7 VStricter environmental safeguards will increase the cost of production, but won't severely slow it down.
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/ I/ p. B1 F4 S. \. Z) }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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