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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html$ P* o8 ?0 f" o C, }5 N' g
( L# x! u7 w9 WWE 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." 6 y' V& W2 g0 H1 c
i$ `) r, `0 F9 KWe must now be referred to as "Petro-Canadians." / M/ P' j! k+ S* Z& E
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WHY SELL NOW? % o( j0 U- S) f6 W- m9 R
1 P6 H% z5 ], T8 GIf 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. - F- l1 {; H& t, z7 k6 O1 \! w2 Y
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If I was thinking of selling, I'd hold off until 2008 or 2010. # \4 n/ r5 y, u4 R4 Q1 i0 ^
- _$ k% O2 k5 B3 z3 M$ I! O3 wHouse prices, with a few peaks and valleys along the way, will continue to increase. 5 h2 d! j0 q+ k, H
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We don't quite get it.
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We're squat in the middle of the greatest industrial boom in the freakin' world! ! z& z6 ~8 @# `6 f8 N
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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: $3 billion per project. 8 {+ a* M. x* T
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Even with huge slowdowns, at least half those projects will happen. The bitumen upgraders in Strathcona and Sturgeon counties are just starting. Nine proposed upgraders are listed on that website. 8 z* r& y3 [) a$ Z- B, z/ y
- D3 A6 ^; A' l* A" BUpgraders 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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+ [; c- v% O8 u+ D. ~. \8 ?4 BEvery 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. ' y, @2 v( F3 {0 o) j0 r
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And all those skilled tradesfolks, coming with their families, have to live somewhere. ' q) `' v; N' l, R1 y" Y [
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House prices will go nowhere but up. |
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