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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html
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/ E8 i" t- J/ c2 x. sWE 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." - h% R+ l+ x' ^. z. Z4 e! I
5 {$ t/ V8 d) e+ J( C- x8 d7 LWe must now be referred to as "Petro-Canadians." $ G/ s8 a# H/ E$ U# {/ D: m
) t( H5 H$ M e: q7 ?5 W6 F3 M$ jWHY 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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8 j) q4 j) ?8 P1 y1 QIf 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. 1 V5 q" e0 n5 s& ]0 ?
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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! * D! J$ N3 Z3 d& n2 @
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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. & M7 `3 r+ }& l* @
3 M- I/ X6 h% e& O: V2 Y; m* YEven 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. 6 O- Y% k1 a0 d. A7 e! x1 l V
9 v& M' b' N# HUpgraders 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.
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6 o8 X( v; _% G7 N3 K7 F; mEvery expert in the world says oil prices will not collapse, due to world-wide demand. The price might drop by $10 per barrel, but oil- sand operations can still make a profit at those levels.
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# i! F3 r3 }6 P! J* ~8 nStricter environmental safeguards will increase the cost of production, but won't severely slow it down. - M- p' t7 `* p) M# }2 o$ S! [
) \) ?# j, V8 N$ {. c" W/ ?" xAnd all those skilled tradesfolks, coming with their families, have to live somewhere.
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% H+ N. _4 d% }2 f5 WHouse prices will go nowhere but up. |
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