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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html* ^$ E0 i9 X. b& t: U7 x) j
/ _3 h; a7 P; W4 O1 `) [$ qWE ARE PETRO-CANADIANS 2 I1 m; M& v7 o. Y
4 u7 ]7 t# k5 i& g, l) N% h( oDue to the climate of political correctness now pervading Canada, Albertans will no longer be known as "Rednecks." 9 d4 {7 a' @* K/ E' Q! b
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We must now be referred to as "Petro-Canadians."
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% A3 c( S: @( G! j* {! B# ]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. 4 z' }4 T0 u0 |& u+ ~
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8 X, G- ]; z( z2 d" e7 X- N2 |( |If I was thinking of selling, I'd hold off until 2008 or 2010. ! W* M% p& ^$ q( A/ ?$ p
V5 B' _4 F2 A% D. N7 bHouse prices, with a few peaks and valleys along the way, will continue to increase.
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We don't quite get it. $ S" y+ M) h) \9 J9 o7 y
( ^! w/ z: H" D4 C5 C z# t; HWe're squat in the middle of the greatest industrial boom in the freakin' world!
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' ~+ t' l6 W% z' {2 V6 Y5 ^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. y6 G+ Z% _9 k; e* m! s) [8 ? 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. ) x/ q, N9 K; b! v" Z
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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. 6 J# Q4 t& [ b: Y! ~" M
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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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Stricter environmental safeguards will increase the cost of production, but won't severely slow it down. i, ?1 q. O( `; |) y% x
* @1 V. R1 i( A/ K4 cAnd 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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