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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html( v/ L( s6 B! `
. Z9 G y! B6 i+ [ b5 bWE ARE PETRO-CANADIANS
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* V# \( f4 p6 b9 t* Y; ?& EDue to the climate of political correctness now pervading Canada, Albertans will no longer be known as "Rednecks."
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/ F S2 ?2 e# i1 uWe must now be referred to as "Petro-Canadians." 8 z; z- c! T. w
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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. ( p8 D* _( M0 ]& i
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If I was thinking of selling, I'd hold off until 2008 or 2010. % @" [2 f2 q: b
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House prices, with a few peaks and valleys along the way, will continue to increase.
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3 A6 z: c/ N: RWe don't quite get it.
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We'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: $3 billion per project. % \% d& i7 ]$ Q- Y) g- w J. Q* T* N" l
6 M w( l; Q$ r" \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. 7 w2 j% }& C3 P& p- K: `6 E
/ R1 Y- H. i* {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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. l9 \4 W& a; S; bTradesmen 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. 4 Q, `4 y1 s- Y6 y# S- v4 f/ a y, k: d
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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. 3 n8 e) k4 \* _9 D7 z6 S
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Stricter environmental safeguards will increase the cost of production, but won't severely slow it down. 0 K2 u+ v2 g* P
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And all those skilled tradesfolks, coming with their families, have to live somewhere.
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8 _8 N; N7 H% u" Z1 E- l. dHouse prices will go nowhere but up. |
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