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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html
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WE ARE PETRO-CANADIANS 2 d. \; W6 i, S# M
u9 E# s0 N ?Due to the climate of political correctness now pervading Canada, Albertans will no longer be known as "Rednecks." 9 W# r3 M* ~# y5 e" J
7 P8 q, ]4 e& Q) L3 u- y6 kWe 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. ( n1 W3 T! H ~/ C6 Z: B1 E
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House prices, with a few peaks and valleys along the way, will continue to increase.
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9 M5 Y W1 ]0 a+ ~7 s2 M* eWe don't quite get it. 4 W3 T* s/ d' {8 S
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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: $3 billion per project.
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$ H! u( Q( v2 F; e5 v" }) V6 nEven 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. 1 f7 z* }$ _+ V# s/ H# t9 R$ W
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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 $10 per barrel, but oil- sand operations can still make a profit at those levels. 9 B$ N, p& d8 ]! B0 D+ V
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Stricter environmental safeguards will increase the cost of production, but won't severely slow it down. 4 v: S" k" |& G3 H7 A
* \; p9 H, ^$ c9 R* e$ a8 gAnd 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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