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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."
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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. 4 r6 y2 Z! E! p; ~* }
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7 E) d' R% q; D, G9 RIf I was thinking of selling, I'd hold off until 2008 or 2010.
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( f/ E- [# L4 K9 `0 jHouse prices, with a few peaks and valleys along the way, will continue to increase.
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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! . J" A% h9 a- [8 }9 i; h0 r" s4 {
7 d+ |8 P& [; w. V" iIn the oilsands, including mining projects and upgraders, the government lists 52 planned projects in its Inventory of Major Alberta Projects website. Average price: $3 billion per project. ! a: _: L1 c7 Q1 V: ]- ^
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Even with huge slowdowns, at least half those projects will happen. The bitumen upgraders in Strathcona and Sturgeon counties are just starting. Nine proposed upgraders are listed on that website. 6 {5 g/ p" `2 ^8 x8 v5 R( {
. ^% c* u. M7 NUpgraders and big oilsands mining projects each require workforces of 5,000 to 6,000 to build over a two-year period. + P3 O0 S! m! V- E, S3 }
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Tradesmen will pour into northern Alberta over the foreseeable future. The numbers of expected newcomers range from 3,000 to 10,000 per year, with a multiplier effect all over the region. / O! _, F1 O" G5 U$ Q
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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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Stricter 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. ; M' z& `. b# @2 B* l
- `5 l" {+ p2 z; l9 BHouse prices will go nowhere but up. |
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