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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html
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WE ARE PETRO-CANADIANS " A" R9 A0 H2 Z" q; k! H8 U9 t% C
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Due to the climate of political correctness now pervading Canada, Albertans will no longer be known as "Rednecks." & e6 M0 G% I: F# m
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We must now be referred to as "Petro-Canadians."
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/ I8 T3 [/ v% RWHY SELL NOW? ; t2 N- [4 c" _! B) @/ h
8 G7 |( M) e: S5 JIf 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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: D' f F) ]0 m6 \: u* m- {% @2 lIf I was thinking of selling, I'd hold off until 2008 or 2010. . q5 l* J: o% M4 f
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House prices, with a few peaks and valleys along the way, will continue to increase.
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. O X: S0 G: @/ n- xWe don't quite get it.
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We're squat in the middle of the greatest industrial boom in the freakin' world! 0 b* x( `) D) t, ?
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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: $3 billion per project. 8 x& A, }' t s: d" \
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Even with huge slowdowns, at least half those projects will happen. The bitumen upgraders in Strathcona and Sturgeon counties are just starting. Nine proposed upgraders are listed on that website. 8 b0 D3 o5 D/ ?+ s/ V+ m* n, d" n/ G
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Upgraders and big oilsands mining projects each require workforces of 5,000 to 6,000 to build over a two-year period.
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+ y0 {, S2 F% s- C$ L" 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. ' e$ F2 B5 ~* I# J# x. m
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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. - z1 {9 `3 e* z. ]8 ~# t
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Stricter environmental safeguards will increase the cost of production, but won't severely slow it down. 1 U+ {7 ?- z+ {9 j1 f
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And all those skilled tradesfolks, coming with their families, have to live somewhere. # E3 L+ F4 W4 o- |
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House prices will go nowhere but up. |
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