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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html5 f3 C$ q: l2 X6 E! c G! i( O4 ^% h
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WE ARE PETRO-CANADIANS
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" o+ W4 Q5 M: g- ~6 ~3 |7 }- rDue to the climate of political correctness now pervading Canada, Albertans will no longer be known as "Rednecks."
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9 F+ T2 O0 J y. I6 `We must now be referred to as "Petro-Canadians." 2 N" E2 n) S+ r: m/ \2 i
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WHY SELL NOW? # Q( a% O5 b) \/ i1 R9 N3 @& S2 o
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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. 1 I3 Q0 ]. I a. G) d) a( ?
) P# X5 _5 I9 f4 G; @2 V- c$ u2 x' mWe don't quite get it.
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( `4 b+ V5 t: u, Z* RWe're squat in the middle of the greatest industrial boom in the freakin' world! ! A3 f, \$ j8 W( C' C% f5 ^
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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: $3 billion per project. 1 G7 @: l( W4 u+ }# E
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Even with huge slowdowns, at least half those projects will happen. The bitumen upgraders in Strathcona and Sturgeon counties are just starting. Nine proposed upgraders are listed on that website. 2 [+ U0 M; P( E5 Z: ]: f- p/ J
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Upgraders and big oilsands mining projects each require workforces of 5,000 to 6,000 to build over a two-year period. . w+ R; F* d# V/ ^- d J7 ?+ Y, N
: l& W4 A! ?; zTradesmen will pour into northern Alberta over the foreseeable future. The numbers of expected newcomers range from 3,000 to 10,000 per year, with a multiplier effect all over the region.
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2 P0 f$ n% y9 n: `+ L& DEvery 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. 0 a& ~7 C3 q; Z& R0 w/ H7 v
$ Q; p* G: o& m: ]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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House prices will go nowhere but up. |
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