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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html# q7 E3 d: o" x& V l$ i q
, z3 d/ P7 u" l9 B1 H9 TWE ARE PETRO-CANADIANS
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- @( y: m( S5 DDue 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.
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5 q Z5 b& \. w9 yIf I was thinking of selling, I'd hold off until 2008 or 2010. ! l& ?* ]& p' F' M; e* B( W: I4 c
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House prices, with a few peaks and valleys along the way, will continue to increase.
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We don't quite get it. " j# ?# k6 O% I8 n0 n
+ i0 s! L7 Y5 _3 e6 T% u/ qWe're squat in the middle of the greatest industrial boom in the freakin' world! Y+ t% c3 S% D7 P3 r7 \) N+ H
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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: $3 billion per project. " O, h" z4 s$ H4 A. y3 P" u. r
- H; X: h* _/ X/ w( fEven 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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% k$ Z) p. K; Q8 ^: P- [" O' T4 XUpgraders and big oilsands mining projects each require workforces of 5,000 to 6,000 to build over a two-year period. 6 z6 b4 I/ y5 e$ |5 q% ^3 _
8 d& D# C; K, d4 hTradesmen 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. - R g( H' _- l5 ~- o& Z' n
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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 $10 per barrel, but oil- sand operations can still make a profit at those levels. ) t1 V- e9 q$ |8 O
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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. w! t7 h0 p( K: q2 Y/ o
$ u/ f. {; R% ~House prices will go nowhere but up. |
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