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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html
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4 ?/ n% f& q; n7 V+ r- Y; F1 gWE ARE PETRO-CANADIANS 4 p$ O! E1 t# I& W* G: |0 x2 V
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Due 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." ! C' T) i/ H4 s( j# z
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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.
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& s1 o+ C; F, a* L9 K& h6 UIf I was thinking of selling, I'd hold off until 2008 or 2010. ( I+ F" ?8 J. ^) z* E7 U+ ^
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House prices, with a few peaks and valleys along the way, will continue to increase.
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' d* p6 i1 M, F- H3 |; e1 R+ N3 ~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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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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* t. G' [6 ]4 S- i _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. ! ^0 n2 R. ~3 l9 w* ~; W) o- ]% P
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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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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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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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" ?. j3 f' o1 A) i2 g) ^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. . f8 w" j6 ~! B% D
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House prices will go nowhere but up. |
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