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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html
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! M$ z. o+ s" z0 j, n$ j. aWE ARE PETRO-CANADIANS 4 X' g+ j8 F& d0 ~1 n( I9 w
" u+ k& I% A; TDue to the climate of political correctness now pervading Canada, Albertans will no longer be known as "Rednecks." 4 R4 H/ }; a% O0 O# `4 Y! a
5 q. q- _2 `5 qWe must now be referred to as "Petro-Canadians."
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WHY SELL NOW? 1 w% {! X# M% G
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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. . b/ K* s2 z7 F9 O% m; S
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If I was thinking of selling, I'd hold off until 2008 or 2010. 4 C/ ~! I3 H3 [9 x/ W) T8 \: {
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House prices, with a few peaks and valleys along the way, will continue to increase. : f/ [+ H* e5 C
! s! x0 G; U& u! m% K6 t/ u+ i! ^We don't quite get it. . G) a- Z8 e- m0 x
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We're squat in the middle of the greatest industrial boom in the freakin' world! 7 m5 i9 {. n, u2 [! l/ ?) y
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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: $3 billion per project. / l# @* E2 R9 [- `
. T: x0 c+ [5 }* M6 r' l5 U7 L) dEven with huge slowdowns, at least half those projects will happen. The bitumen upgraders in Strathcona and Sturgeon counties are just starting. Nine proposed upgraders are listed on that website. ( r. J: A! X( s7 I) b/ n- V
& Y6 V8 c# e7 R* q( g+ sUpgraders and big oilsands mining projects each require workforces of 5,000 to 6,000 to build over a two-year period. + B$ r" v O, m# c6 Q3 |: ^4 z
+ E. e2 P' K X. f% v. v$ M- Q; sTradesmen 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. @% M- y; k! ~0 D0 [! ^* M
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Stricter environmental safeguards will increase the cost of production, but won't severely slow it down.
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6 h& Q9 f# ]2 Q/ U# LAnd all those skilled tradesfolks, coming with their families, have to live somewhere. / G5 a, P8 C2 X3 }: n4 r
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House prices will go nowhere but up. |
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