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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html- G- m1 V1 J9 G8 o8 ^1 Q
4 Q2 s I4 T) @( M( H7 y! ? kWE ARE PETRO-CANADIANS
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+ J1 y; T4 @, H7 t- uDue 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." & U) [# _# X+ A
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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. 0 n7 T* A; A9 R* \% K
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If I was thinking of selling, I'd hold off until 2008 or 2010. ( s( e. V. {; [! }$ D" A9 C) t
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House prices, with a few peaks and valleys along the way, will continue to increase. $ f" R' l! [! f6 C( Q0 @, m
' F* U7 }, R; k5 K r+ M/ eWe don't quite get it. ! n- I) J/ ?( e/ w
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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: $3 billion per project. C* |/ I: Q$ x9 `" q
! N$ t2 m6 g* l+ n0 tEven 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 v7 f9 ]9 U2 T# }# oUpgraders 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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" j z8 @& ~2 g' X% M7 u$ c5 L( l, _; iEvery 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. 3 k V& N6 t+ Y
; t% W" j" m) I. K2 m' j5 {Stricter environmental safeguards will increase the cost of production, but won't severely slow it down. # A! ~/ Q6 U+ `
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And 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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