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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html% G, N- M# C( h% e
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WE ARE PETRO-CANADIANS 0 N" @$ f+ }" @/ n& ^
( }4 }) l6 ?( U. k$ FDue to the climate of political correctness now pervading Canada, Albertans will no longer be known as "Rednecks."
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; z9 ^$ g0 B2 ?/ G8 X) P zWe must now be referred to as "Petro-Canadians."
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WHY 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.
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7 O+ z% [& P) T, ~If I was thinking of selling, I'd hold off until 2008 or 2010.
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* s. w5 i2 |) C5 R/ O5 G8 e. VHouse prices, with a few peaks and valleys along the way, will continue to increase.
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# Q, c2 f `; T7 pWe don't quite get it.
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We're squat in the middle of the greatest industrial boom in the freakin' world! . j' b/ k" u5 G, w. G W
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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: $3 billion per project.
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Even with huge slowdowns, at least half those projects will happen. The bitumen upgraders in Strathcona and Sturgeon counties are just starting. Nine proposed upgraders are listed on that website. 4 ?: ^, t! L5 D1 M! P7 x
8 L6 U" W4 u$ A: Y% wUpgraders and big oilsands mining projects each require workforces of 5,000 to 6,000 to build over a two-year period. $ G! e) s' `% V: W" P9 P
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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. 7 t! I$ K9 [2 Y* T3 I. X! Y" O! b
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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.
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' n; f* E. e! h4 y& U7 r1 {Stricter environmental safeguards will increase the cost of production, but won't severely slow it down. : q- K- k1 n2 E! G" N. h
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And all those skilled tradesfolks, coming with their families, have to live somewhere.
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' J1 @2 ^% J; q) \$ p3 _9 o" UHouse prices will go nowhere but up. |
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