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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html
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4 U) A2 _+ k- ^ z0 x) K" iWE ARE PETRO-CANADIANS
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5 L! Y7 l, @: d0 }2 _* QDue to the climate of political correctness now pervading Canada, Albertans will no longer be known as "Rednecks." ) h1 F6 I8 {& o) ?9 z" T7 v% G% n* t" K
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We must now be referred to as "Petro-Canadians." . K" n% c t1 z5 E! }
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WHY SELL NOW?
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/ ]- [* s7 [8 [( b7 c( i' d/ v3 VIf 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. 1 T7 v- V' D! I* h
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# \- r0 u( a0 BIf I was thinking of selling, I'd hold off until 2008 or 2010.
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n0 j' _/ O8 E4 R" _$ ^House prices, with a few peaks and valleys along the way, will continue to increase.
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# _, L0 g' a, K- ?) o! kWe don't quite get it. , k. c" _5 X- l/ m3 G
: t* O+ _- O8 j/ f- ^+ o4 v- z# k- kWe're squat in the middle of the greatest industrial boom in the freakin' world! : [" `8 M, r; w9 x" ^
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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: $3 billion per project.
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Even with huge slowdowns, at least half those projects will happen. The bitumen upgraders in Strathcona and Sturgeon counties are just starting. Nine proposed upgraders are listed on that website.
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8 G2 t' t( d: ~Upgraders and big oilsands mining projects each require workforces of 5,000 to 6,000 to build over a two-year period. 6 I, F( C/ B- U+ _ |" @: G" d
" ~$ Q& L; v: P- F7 n$ Q8 z% x- ~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.
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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 $10 per barrel, but oil- sand operations can still make a profit at those levels.
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Stricter environmental safeguards will increase the cost of production, but won't severely slow it down.
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, G( \, |1 i, I& H: V3 cAnd all those skilled tradesfolks, coming with their families, have to live somewhere. 8 i; @4 N' i1 |$ @
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House prices will go nowhere but up. |
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