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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html d$ B5 f1 [; T* }( Y7 R
7 _7 C# v) C$ F4 V4 _& nWE 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." + u! r. t! V# W% v* G
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We must now be referred to as "Petro-Canadians." % a! f9 x' U) }' e! \
* Q, g: p( p% l. D# c: ^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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) L* B+ d( }4 _+ J! R* Y. }House prices, with a few peaks and valleys along the way, will continue to increase.
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C* |. y8 M2 w8 W# h9 |) W- p; WWe don't quite get it.
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+ }6 @9 A3 S* k8 e6 M: mWe're squat in the middle of the greatest industrial boom in the freakin' world!
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6 m: y2 V; Y! Z& V; P9 H. |' o* o4 RIn 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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q, C" x; N. A7 C) B6 v. p" {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. 3 P% K S9 r4 [% O
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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 $10 per barrel, but oil- sand operations can still make a profit at those levels.
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Stricter environmental safeguards will increase the cost of production, but won't severely slow it down. 6 {/ f% K5 ?: c1 @$ l: q
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And 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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