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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html! T7 m. n# V! c; o8 n
4 d" F+ a8 u, F* O1 r: G5 aWE ARE PETRO-CANADIANS
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! Y* I7 }4 A) FDue to the climate of political correctness now pervading Canada, Albertans will no longer be known as "Rednecks." % S% {1 k- H! g5 t/ q
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We must now be referred to as "Petro-Canadians." " y7 u9 G6 Y, A$ b
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WHY SELL NOW? 3 h3 C {% H3 A! [; W# ~
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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. , ]1 G* d. X: e* ]
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% h! @7 c: @ j! ?2 a, ?# ^If I was thinking of selling, I'd hold off until 2008 or 2010. 6 x; o) r: o3 q' J
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House prices, with a few peaks and valleys along the way, will continue to increase. / ~3 |! y# H) p; x/ ]( b" N
6 |. `* n2 W E3 ~7 m& E3 zWe don't quite get it. $ E: p* `. Z# F
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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: $3 billion per project. 3 J) T7 [6 `3 d* P, }. I [- {
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Even with huge slowdowns, at least half those projects will happen. The bitumen upgraders in Strathcona and Sturgeon counties are just starting. Nine proposed upgraders are listed on that website. C% i( s9 ~5 O* T1 d( V& D8 K
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Upgraders and big oilsands mining projects each require workforces of 5,000 to 6,000 to build over a two-year period.
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* B5 S. p: `$ a/ E& h* LTradesmen 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 $10 per barrel, but oil- sand operations can still make a profit at those levels.
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S8 z$ N, Z) m7 _9 PStricter environmental safeguards will increase the cost of production, but won't severely slow it down. 3 V6 X4 }+ Q4 n4 {* s
7 i: U: S- l1 w) B& e' h sAnd 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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