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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html
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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." 7 n* ^, y% V! U. a( ?
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We must now be referred to as "Petro-Canadians."
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$ a. I$ O, Q# u$ ?WHY SELL NOW? 3 M) w+ i7 y* k5 F
7 V+ @' j3 M" S3 HIf 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. 7 o! O8 {* C# i; Q
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If I was thinking of selling, I'd hold off until 2008 or 2010.
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* v2 a9 F0 b, s2 e" ]5 o* OHouse prices, with a few peaks and valleys along the way, will continue to increase.
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! p) q# R+ \' ?2 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! ( h0 t: E7 }: X+ u+ x5 d( ^( U
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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: $3 billion per project. # }7 n% f# e5 I( x- }4 S
- g- y! l* r2 _; ~( o DEven with huge slowdowns, at least half those projects will happen. The bitumen upgraders in Strathcona and Sturgeon counties are just starting. Nine proposed upgraders are listed on that website.
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+ ^9 W5 c/ D4 j. N0 n1 @Upgraders and big oilsands mining projects each require workforces of 5,000 to 6,000 to build over a two-year period.
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, x- O0 B: @. `* ATradesmen will pour into northern Alberta over the foreseeable future. The numbers of expected newcomers range from 3,000 to 10,000 per year, with a multiplier effect all over the region. & z- {$ Y5 G4 H1 J0 h/ }
' q7 V! A$ \' C, UEvery 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. ; t: l' q- T) W8 w9 z
1 v% y3 l9 O; B8 G/ y% x hStricter 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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a) S0 t/ ^2 {House prices will go nowhere but up. |
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