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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html; y" Q% R# F; T, n' Y* G( L! i
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WE ARE PETRO-CANADIANS 6 \7 {9 J+ Y8 J
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Due to the climate of political correctness now pervading Canada, Albertans will no longer be known as "Rednecks." / @" ?: n+ Z& Z" P9 P8 U/ k
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We must now be referred to as "Petro-Canadians."
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WHY SELL NOW? l8 _) j( O, \5 s
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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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$ e, l" K2 e1 \: ?House prices, with a few peaks and valleys along the way, will continue to increase. 7 q1 z- p9 w. d2 a$ Z6 V$ p( g
3 r& u8 K" i' \4 mWe don't quite get it. 3 ^# h% r/ d0 {' s4 S
+ q& n0 p- v0 W% g' L+ N6 U- ?We're squat in the middle of the greatest industrial boom in the freakin' world!
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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: $3 billion per project. 7 ]+ p' m" X5 M: G% R
l. B6 z) c/ L- ?' bEven with huge slowdowns, at least half those projects will happen. The bitumen upgraders in Strathcona and Sturgeon counties are just starting. Nine proposed upgraders are listed on that website. 2 G1 N" z% p4 d' Q1 R4 ?2 E
5 h& Q2 b( B; {% S: j* IUpgraders and big oilsands mining projects each require workforces of 5,000 to 6,000 to build over a two-year period. 4 i/ X# o U" r5 d. g) N+ n
! Y* [1 u# [9 D7 u$ iTradesmen 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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& y4 H. ?3 Q- \4 I- G# Y( _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. & z" i, V# }( l0 V9 k1 t( P& L
% w' N+ j5 j. y* h# O% VStricter environmental safeguards will increase the cost of production, but won't severely slow it down.
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6 o# R4 w- q4 GAnd 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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