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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html
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8 k/ }* T. p5 h/ ]1 fWE ARE PETRO-CANADIANS + J% m' `: P: N# u# q8 k
6 o, K$ i8 `7 r4 u( }7 V' zDue to the climate of political correctness now pervading Canada, Albertans will no longer be known as "Rednecks." 6 G9 |, g7 C/ a6 J4 x0 P1 j
9 U! Y# o9 \6 uWe must now be referred to as "Petro-Canadians."
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WHY SELL NOW? y" U- L% s1 S3 A" m
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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. 8 U: Q3 e2 I! u- o
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If I was thinking of selling, I'd hold off until 2008 or 2010.
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( u- u' B* z0 ~House prices, with a few peaks and valleys along the way, will continue to increase. ) M- |9 x2 i G( V7 y# _; Y% }% c
3 q9 e( R' d, j1 Y; c4 g9 Q+ dWe don't quite get it. * R8 G7 ~, W# N' k5 O0 S/ H
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We're squat in the middle of the greatest industrial boom in the freakin' world!
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" {+ p2 O2 L) r( J+ P! \$ iIn 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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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. # b5 }8 E& \1 ~7 X4 G
$ ^/ ?: E$ }* ~' k8 o6 K6 w0 YUpgraders and big oilsands mining projects each require workforces of 5,000 to 6,000 to build over a two-year period. 8 ]7 N3 F; H+ T
6 k& a+ \& M) LTradesmen 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. ' d! t( y8 [" W( p3 x- k! C
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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. - K; C1 P* ?2 m% L2 c& n
! P6 i0 {9 S% |7 F4 L( k3 VAnd all those skilled tradesfolks, coming with their families, have to live somewhere. 3 D5 ^; A6 T* F! m
8 H+ f4 F2 n3 u1 y6 l9 cHouse prices will go nowhere but up. |
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