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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html. D J f/ R: n" V4 U
; Z K U, Z6 R# l" nWE ARE PETRO-CANADIANS # D" {* D4 l# K) ]) s7 R8 l' y# c5 h; {
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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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3 V0 V, p' b0 |- t) X2 c [; wWe must now be referred to as "Petro-Canadians." " Q; c5 J( x8 A5 X$ z- C
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WHY SELL NOW? : e0 w8 {$ R7 e7 P3 N' f! n+ S
, W& d: U- Q) p: F" G0 `0 }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. ( y6 @+ a( j$ m& o
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House prices, with a few peaks and valleys along the way, will continue to increase. 6 x5 M1 M# ^0 w+ t/ N* ^
7 E5 Z3 i _/ A/ w: i7 B4 h! eWe don't quite get it.
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* V/ g8 ?9 n. Z8 z5 z+ B0 lWe're squat in the middle of the greatest industrial boom in the freakin' world!
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% v7 n. j& l& \; [8 v& D# ?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. 6 H8 a# _4 V% Q" m
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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. : b+ g+ D% h9 N7 ?
: {' R- w+ n( AUpgraders 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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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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% K2 A0 e( M- f6 i0 `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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- W" R7 U8 Q: s. X9 Q4 G: xAnd all those skilled tradesfolks, coming with their families, have to live somewhere. 0 D( C+ x0 M' \8 [# O* b
$ u( K6 g$ ]5 P8 ^- O0 `/ JHouse prices will go nowhere but up. |
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