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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html3 B1 K b! C2 G
4 A7 C# j9 k) i# J: kWE ARE PETRO-CANADIANS ; J/ ]) O, n, r* [1 X* K- n5 t9 o
) B" e8 N0 O, f: T$ i/ ~* I/ oDue to the climate of political correctness now pervading Canada, Albertans will no longer be known as "Rednecks."
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* m; l# H- Y: pWe must now be referred to as "Petro-Canadians."
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; s; I& [! W2 xWHY SELL NOW?
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0 M, X# i/ I! D# XIf 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. ; |) i& W7 h4 ?& N% n
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8 ]4 R2 R- P0 P6 `. iIf 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. , v+ V8 g5 E! r& b! V
6 z6 k8 Z$ S! h: D- p+ T c) cWe don't quite get it. 8 G1 P5 [; l# a" t
0 m6 u9 n2 t4 ^' a rWe'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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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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2 t1 j' w% }& m2 ^! i8 \$ _+ bUpgraders 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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6 x) l4 M0 B' A6 n8 J z' K. kEvery 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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. j% e2 T/ W& r+ {7 p/ ZStricter environmental safeguards will increase the cost of production, but won't severely slow it down. / F: ? v: {* d" m* T
/ S+ Y4 w, a' L. |) o* WAnd all those skilled tradesfolks, coming with their families, have to live somewhere. * r0 v z9 a# u6 e
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House prices will go nowhere but up. |
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