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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html& o W6 M% X& {) d2 ^
9 O+ Y& s; \8 I& G* U9 tWE ARE PETRO-CANADIANS / _3 U1 @. g! l" W/ |$ \
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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." " V' q1 ]' r+ g6 n- m9 i) X J
! V1 h9 d* F. Z# [3 i/ ?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. ) I2 N4 y7 H7 j2 s1 F9 L
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If I was thinking of selling, I'd hold off until 2008 or 2010.
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$ d1 r: ^3 w6 f1 L% q, H6 AHouse prices, with a few peaks and valleys along the way, will continue to increase. 0 }3 r! O/ E+ J" u9 X2 t/ E
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We don't quite get it. . o) C2 V% Y; ]) B) f
4 ^( P( r- g6 c( uWe'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. 9 J" m6 l1 Y! ?- C% @+ ?
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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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5 z" b: ]4 h) x) }; DUpgraders 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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8 {2 n, o8 E1 t1 g5 h5 PEvery expert in the world says oil prices will not collapse, due to world-wide demand. The price might drop by $10 per barrel, but oil- sand operations can still make a profit at those levels. - P1 T r2 x3 D8 v& F/ I0 A
- w+ V% A- N7 P. k. C( Y8 `7 A4 bStricter environmental safeguards will increase the cost of production, but won't severely slow it down.
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# _& O; }4 R: a' y5 ^! Q7 yAnd all those skilled tradesfolks, coming with their families, have to live somewhere. - D$ u" J, [. }# j: i9 N
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House prices will go nowhere but up. |
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