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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html
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: ?# l# X3 B s2 `) k: ~$ d4 rWE 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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5 P% i, t- ~/ p/ m% \, hWe 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. 5 H' I! t6 T0 `( ~ }5 K# I
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If I was thinking of selling, I'd hold off until 2008 or 2010. 3 ~$ D! Y% z j# l5 O% Y8 O2 s
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House prices, with a few peaks and valleys along the way, will continue to increase. 1 r" V# ~2 [) B2 X1 k1 m
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We don't quite get it. & Z; x: Y$ s* J( `) ?- j% M
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We're squat in the middle of the greatest industrial boom in the freakin' world!
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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. $ t4 P2 K9 J5 g' J1 W$ e
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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.
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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. * S. q p% a0 y) m$ B0 }
4 h+ D& V8 }7 W1 UTradesmen 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. 5 m% i: O5 o+ D \3 @
- d1 T0 P6 e2 i/ i& `Stricter environmental safeguards will increase the cost of production, but won't severely slow it down.
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2 }! v: [3 D/ b3 v8 wAnd 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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