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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html
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4 X" ^# b$ B9 ?WE ARE PETRO-CANADIANS + r& M# g, f" t" h
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Due to the climate of political correctness now pervading Canada, Albertans will no longer be known as "Rednecks."
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* I2 @# `; r. A1 V( JWe must now be referred to as "Petro-Canadians."
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WHY SELL NOW? 9 w7 a! T. T2 Q! k6 J( R k
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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.
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5 k7 K Y( s+ _1 h; k! AIf I was thinking of selling, I'd hold off until 2008 or 2010.
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House prices, with a few peaks and valleys along the way, will continue to increase. # l. Y: P! g# ^& N) p3 _. f+ w
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We don't quite get it.
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! p! v; D/ k: @% x t$ PWe're squat in the middle of the greatest industrial boom in the freakin' world!
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& [* p1 t4 Y0 k0 mIn 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. [# Q. y, W4 k7 W, h7 a5 ~, V: K
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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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. q/ D6 D( G7 t0 u5 C h |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. 9 X) n; K' Y- L- [9 o
8 q( c8 l1 K7 Z- 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. , _ n1 j; o4 Q: w+ m" z% l2 r
" C+ w1 J' H+ hAnd all those skilled tradesfolks, coming with their families, have to live somewhere. / }6 q) c; g% i
+ W: V1 w9 J: J) aHouse prices will go nowhere but up. |
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