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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html
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+ K' J- r) I" d4 i+ k2 a) D& OWE 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." ; G0 s7 Y5 b2 A' n& }! r
8 J0 N9 Y) z& d% `% VWe must now be referred to as "Petro-Canadians." # g; J9 X& V3 j0 A: o1 v3 u' n+ o
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WHY SELL NOW?
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9 U0 z O* j! {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. 0 P3 n# M6 t$ B/ X" x
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5 a% i7 P: z; F. nIf I was thinking of selling, I'd hold off until 2008 or 2010.
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: Q8 m& H( X( z$ THouse prices, with a few peaks and valleys along the way, will continue to increase. 8 Y' x3 K' ?1 E! \/ b% p3 g
* w i8 N4 t8 {6 C8 j( u( zWe 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: $3 billion per project.
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Even with huge slowdowns, at least half those projects will happen. The bitumen upgraders in Strathcona and Sturgeon counties are just starting. Nine proposed upgraders are listed on that website. d$ }# v4 { u7 f1 ]# T
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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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& X$ r5 h1 g0 S6 qEvery expert in the world says oil prices will not collapse, due to world-wide demand. The price might drop by $10 per barrel, but oil- sand operations can still make a profit at those levels. 4 ~$ U- ]4 g# G( ?+ X# @ b+ T
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Stricter environmental safeguards will increase the cost of production, but won't severely slow it down. 1 z, A" B [1 U
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And all those skilled tradesfolks, coming with their families, have to live somewhere. + X3 ^# z, T" I, T9 M6 B
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House prices will go nowhere but up. |
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