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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html0 a3 z" ~0 j j1 z: M
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WE ARE PETRO-CANADIANS
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Due to the climate of political correctness now pervading Canada, Albertans will no longer be known as "Rednecks." 2 g; w: s" f. c. t2 x; [
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We must now be referred to as "Petro-Canadians."
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WHY SELL NOW? ( x6 u/ g4 k3 _/ {" W2 f; M
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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. 6 I5 C8 f. w B! c8 O
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House prices, with a few peaks and valleys along the way, will continue to increase. / a; q. a$ B) r8 `8 L3 j: X J
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We don't quite get it. . L Y) c3 b S! _: E( I7 C' v
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We're squat in the middle of the greatest industrial boom in the freakin' world! ) f: z( K" ^$ D) W9 h9 J& f. r' C
7 B E! m- Y$ J% H* WIn the oilsands, including mining projects and upgraders, the government lists 52 planned projects in its Inventory of Major Alberta Projects website. Average price: $3 billion per project.
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Even with huge slowdowns, at least half those projects will happen. The bitumen upgraders in Strathcona and Sturgeon counties are just starting. Nine proposed upgraders are listed on that website.
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/ F. q- ?. ~- w$ z9 iUpgraders and big oilsands mining projects each require workforces of 5,000 to 6,000 to build over a two-year period. 4 Z1 s8 P6 b* f' R! o
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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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u# |( h' j4 C, X, uEvery expert in the world says oil prices will not collapse, due to world-wide demand. The price might drop by $10 per barrel, but oil- sand operations can still make a profit at those levels.
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Stricter environmental safeguards will increase the cost of production, but won't severely slow it down.
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And all those skilled tradesfolks, coming with their families, have to live somewhere. ! u0 U. r: B8 `" M
- u. @2 ~/ y: Z p. C$ G8 EHouse prices will go nowhere but up. |
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