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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html* Q# f0 B! S& C! O2 f% I( o
9 s( u- D0 z. U K; j$ K/ U% {WE ARE PETRO-CANADIANS
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) g6 s" K) t- R) Y5 M. lDue to the climate of political correctness now pervading Canada, Albertans will no longer be known as "Rednecks." 6 d( J! N$ p% x) ~ b, W
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We must now be referred to as "Petro-Canadians."
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/ M8 }6 U8 R& K% T3 L VWHY SELL NOW?
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& G3 r8 p0 v1 p" ^: R' T1 S% VIf 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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House prices, with a few peaks and valleys along the way, will continue to increase. ) I. L- o" J" l8 J7 o4 ^
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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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$ r* Q' p. j) v1 AIn 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. 2 `4 }" e- a. M9 ^7 }! y
* j2 h2 A) a2 A- w( C- l( QEven 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 j6 f/ R3 Z* O% \
$ [/ Y" k7 B2 n! W1 [. w+ nUpgraders 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. 6 V5 K) F+ L% W$ O6 K% q; X* g* H; S
; f2 i1 L1 p% {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. ; m, M9 v- D: u+ h
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Stricter environmental safeguards will increase the cost of production, but won't severely slow it down. & @/ A2 A7 p( p# k5 _" l1 P% c: O
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And 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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