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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html, n i% z% U9 p4 {4 _# X
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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." - `& W6 L2 |4 y3 q% n
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We 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. / O4 C' S: W& Y0 m0 d5 b. p3 l
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: x6 K% ?2 q$ m3 nIf I was thinking of selling, I'd hold off until 2008 or 2010.
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$ J, z( u. U% L& ~6 Q6 f r. qHouse prices, with a few peaks and valleys along the way, will continue to increase.
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, ~4 z9 J$ Q: M6 N7 b5 d' p7 yWe don't quite get it.
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We're squat in the middle of the greatest industrial boom in the freakin' world! 8 r" V1 x' ]* X' ?
1 J* L5 j" G8 d; }7 KIn the oilsands, including mining projects and upgraders, the government lists 52 planned projects in its Inventory of Major Alberta Projects website. Average price: $3 billion per project. + z: {8 C; h; I$ R* K9 y5 S2 h: ^
$ a7 z9 J+ v6 H; V! 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 V5 e; p- J4 ^/ A0 _- q* m
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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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$ B, H. j+ {* V/ Y! V0 a5 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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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. , s8 b* i& a. h# P: ~
8 l: h. D" X5 ~ V U; U% xStricter environmental safeguards will increase the cost of production, but won't severely slow it down.
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: P: f2 e1 y' a5 g9 |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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