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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html
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8 _0 G( p& k6 V# NWE ARE PETRO-CANADIANS
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/ Y* D# o0 a q" ^& w' R* U2 bDue to the climate of political correctness now pervading Canada, Albertans will no longer be known as "Rednecks." + i/ d) ~7 D2 E. c
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We must now be referred to as "Petro-Canadians." 6 y+ F% O q( z3 ]
" n' f; H5 L" l! V* kWHY SELL NOW? ( W# [0 ?1 a$ g- ?2 L; c; w6 V
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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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House prices, with a few peaks and valleys along the way, will continue to increase.
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' i R4 F* {5 d4 C! Z* UWe don't quite get it.
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We're squat in the middle of the greatest industrial boom in the freakin' world!
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" t- c6 I6 ]+ ^) _: }# 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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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. 8 c g0 `4 c9 E
: N! G, X7 p6 K- _2 K' {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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7 o. E5 u" L3 u3 fTradesmen 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. p5 |( p2 {: x* _% U, G+ u3 o
% f8 C) r3 d& ^7 e) F1 k4 tEvery 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.
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And all those skilled tradesfolks, coming with their families, have to live somewhere.
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7 T1 G5 |: s% ~2 |' pHouse prices will go nowhere but up. |
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