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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html$ O% Q* s1 \5 @$ a& l$ d. R3 J
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WE ARE PETRO-CANADIANS ( d0 W& p: h. o, y
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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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9 s& ]5 O, q0 M$ U+ f% dWHY SELL NOW? 4 r5 X: z, H3 ]3 {. E7 k7 g2 T8 p
. ` G/ g3 w3 t' k" M% v; SIf 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. ) ]) Y, C; v- m( y1 ~& I0 P
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If 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. 3 E( N; @6 \& G$ g. |3 o% k) h( e1 s
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We don't quite get it.
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8 {+ m' \0 N7 c7 |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.
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/ P5 o* k. C( O/ B( {5 jEven 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. 4 u, T4 \1 x" [- P
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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.
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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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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. + c3 d) _* T3 O! U; K
$ z, ?; ~- }2 p# s( K2 Q& V' U& z! MStricter 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. 1 v4 W. O- D% T ]1 b1 W
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House prices will go nowhere but up. |
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