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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html; S3 b& m/ d& o9 \9 F
+ k: v' p v/ A4 n* p- }- ^+ vWE ARE PETRO-CANADIANS 7 D. j ?. W4 ^7 a, L
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Due to the climate of political correctness now pervading Canada, Albertans will no longer be known as "Rednecks." ) g5 g; o/ Q( O; ^
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We must now be referred to as "Petro-Canadians."
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WHY 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. + G! o- X; c& \( ]( T/ o" v
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# L+ ^3 \3 E; F5 ?If I was thinking of selling, I'd hold off until 2008 or 2010.
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4 M4 S4 ]- k V, K" IHouse prices, with a few peaks and valleys along the way, will continue to increase. 2 s' ~$ P2 `" L8 B7 a
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We don't quite get it.
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We're squat in the middle of the greatest industrial boom in the freakin' world! # h0 Y4 t4 k' n' ]$ T; i5 ?
; [1 X2 i- N5 \! o4 K E/ dIn 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. $ ]1 G k3 G1 @
7 e9 _1 n0 |1 e' j ]# Z0 g8 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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k: ^9 H+ A7 }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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# ^: ]$ Y4 }9 {" \- \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. / y) i2 V4 J8 @
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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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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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