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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html$ i1 f1 e! @: o0 j- H
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WE ARE PETRO-CANADIANS 2 ~. e* I" @3 X; o
) D4 E) P2 j4 V4 B; e; tDue 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." 2 t- F, V! u- w" z) M
" J' v: |( T' `WHY SELL NOW? 2 P+ O+ Y; y0 d% p
# P1 n3 |! z" B& ]8 aIf 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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If I was thinking of selling, I'd hold off until 2008 or 2010. . g+ u" {$ B1 U- [, |8 D! m \7 |" ` S
. r7 J; W! ^ Z$ B* l( ~( M: ZHouse prices, with a few peaks and valleys along the way, will continue to increase. + L# z4 d% N3 b% Z
7 D+ _/ Z, h( f0 V2 v L bWe don't quite get it. : `) d3 p( [7 v, v
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We're squat in the middle of the greatest industrial boom in the freakin' world! & k* o& s& d4 g6 C
$ I+ z1 \* i" @7 M, O# OIn 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.
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3 a7 n O6 c% E7 {7 U. l* ]5 b0 NUpgraders 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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7 d0 w* ~4 r# MTradesmen 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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5 [* S# @. s* pStricter environmental safeguards will increase the cost of production, but won't severely slow it down. # K2 Q* _& U& q* t9 x# s5 n
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And 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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