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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html
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0 O* ?, ? Q5 s/ i. O% TWE 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.
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If I was thinking of selling, I'd hold off until 2008 or 2010.
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5 _7 x& E2 W) v0 o# D) ?: W7 y% AHouse prices, with a few peaks and valleys along the way, will continue to increase.
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* z: ]& A5 n( V& E; z4 wWe don't quite get it.
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We're squat in the middle of the greatest industrial boom in the freakin' world! 6 H# I( M# M; |& K& u* y" n
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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: $3 billion per project.
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- h9 \& \6 U1 f, T( D3 @! d& c; REven with huge slowdowns, at least half those projects will happen. The bitumen upgraders in Strathcona and Sturgeon counties are just starting. Nine proposed upgraders are listed on that website.
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: E, U/ g# o: L; i8 G* \ r5 J+ y/ mUpgraders and big oilsands mining projects each require workforces of 5,000 to 6,000 to build over a two-year period. 9 c* I2 z$ ]( K: [. t
& y3 D) Y* l; E5 VTradesmen 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. 6 }& m% p" }1 r# V2 v0 B: v
, y* p3 U. [: r4 _: LStricter environmental safeguards will increase the cost of production, but won't severely slow it down.
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2 L1 E9 k. \: E, c h; pAnd all those skilled tradesfolks, coming with their families, have to live somewhere. ( F! @ q/ E: y0 S% a
# ^3 M; x2 n( t7 YHouse prices will go nowhere but up. |
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