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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html0 j$ S6 Y( ^" {4 k! b; {% M/ b
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WE ARE PETRO-CANADIANS
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Due to the climate of political correctness now pervading Canada, Albertans will no longer be known as "Rednecks."
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We must now be referred to as "Petro-Canadians." - y5 c- S: j) |6 o# ]7 S! ?! j
5 ?4 j8 s/ h" }5 T% a2 k- [WHY SELL NOW? 3 R, n1 @! v$ _4 Y) ]2 c
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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.
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If I was thinking of selling, I'd hold off until 2008 or 2010.
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& Z; G( h3 d, b- B" x- M8 jHouse prices, with a few peaks and valleys along the way, will continue to increase.
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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! % x, l. P2 o; I" z! j3 }8 J
2 x- } z- C$ K" pIn the oilsands, including mining projects and upgraders, the government lists 52 planned projects in its Inventory of Major Alberta Projects website. Average price: $3 billion per project.
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Even with huge slowdowns, at least half those projects will happen. The bitumen upgraders in Strathcona and Sturgeon counties are just starting. Nine proposed upgraders are listed on that website. , f8 V$ `" t: Z% y
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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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/ [6 _5 I, q1 {( @% ^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. ; T6 }4 b1 R, k0 U
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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. & G- e0 _. i. V( {- V" P
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Stricter environmental safeguards will increase the cost of production, but won't severely slow it down. 1 X% R4 f. Z* [1 W& p8 s
! L; H, v+ i* ^# D0 d7 q4 ]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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