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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html( B, u( X: q! N# |1 A
9 S# h y5 \+ l3 x; Y% _! D# KWE ARE PETRO-CANADIANS s* h& l. J! P- ^6 D8 G3 H( \
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Due to the climate of political correctness now pervading Canada, Albertans will no longer be known as "Rednecks." 8 ` I# w4 s1 ~+ C* m& V* @) P& }
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We must now be referred to as "Petro-Canadians."
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4 S l3 f k2 ]9 K! M4 wWHY SELL NOW?
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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. . n9 T8 y+ O6 N. o! L) g! j8 m
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If I was thinking of selling, I'd hold off until 2008 or 2010. 0 D' r' C+ P9 {, _9 V4 w
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House prices, with a few peaks and valleys along the way, will continue to increase. 6 ?" R0 x `. z( l2 I
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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!
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3 y! S, V8 E& s" G- z% g( Y7 ^5 iIn the oilsands, including mining projects and upgraders, the government lists 52 planned projects in its Inventory of Major Alberta Projects website. Average price: $3 billion per project. , x, h, Z- B3 H1 m- X
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Even with huge slowdowns, at least half those projects will happen. The bitumen upgraders in Strathcona and Sturgeon counties are just starting. Nine proposed upgraders are listed on that website. # ~9 N& ]1 @' u( L' `$ W1 L
0 E# g# W5 K$ v1 y5 ^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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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 $10 per barrel, but oil- sand operations can still make a profit at those levels. ; B- o$ ~3 H8 O. I
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Stricter environmental safeguards will increase the cost of production, but won't severely slow it down.
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And all those skilled tradesfolks, coming with their families, have to live somewhere.
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8 `0 |! K2 ?. L9 P! m+ L4 F/ D( H& YHouse prices will go nowhere but up. |
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