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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html
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WE ARE PETRO-CANADIANS ( R, T# ?5 T: P# O- x( n
; N, ?# {! A: NDue to the climate of political correctness now pervading Canada, Albertans will no longer be known as "Rednecks." 2 h$ _: C- b- M
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We must now be referred to as "Petro-Canadians." 9 b+ d7 }+ i+ r, ^9 M5 c
1 G5 V0 h {; i$ eWHY SELL NOW? ' x( \' x9 F; \# n* d. 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. 9 ^0 Y+ [) i8 t3 W5 A, z% T0 Z- Y% t
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If I was thinking of selling, I'd hold off until 2008 or 2010.
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5 X4 ^3 H- r' T4 tHouse prices, with a few peaks and valleys along the way, will continue to increase. & J; q/ M9 l' {$ I- d/ }- V
4 k* ~+ u& f9 @We 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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/ @8 {, I0 S$ z/ GIn the oilsands, including mining projects and upgraders, the government lists 52 planned projects in its Inventory of Major Alberta Projects website. Average price: $3 billion per project. 8 L& ^# n* `+ Y
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Even with huge slowdowns, at least half those projects will happen. The bitumen upgraders in Strathcona and Sturgeon counties are just starting. Nine proposed upgraders are listed on that website. ' y: r6 j* L: }- h% O" `$ x$ i4 _
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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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, A8 J) Z2 L; N. w/ v2 [. |' \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. 7 ^! M- e" d+ {9 T; v
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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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: r! E5 \) T, C/ u/ VStricter environmental safeguards will increase the cost of production, but won't severely slow it down. ! l0 D& u( D o$ \
) H5 d& [+ p$ J- M" s jAnd 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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