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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html
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WE ARE PETRO-CANADIANS
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6 M J7 [6 Z- H3 [' F0 PDue to the climate of political correctness now pervading Canada, Albertans will no longer be known as "Rednecks." 5 l+ B5 \! @* }
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We must now be referred to as "Petro-Canadians." - f/ w3 P8 ^8 J2 A6 p0 M2 ]" `
# e$ ^" ^+ n/ M, B5 d! _0 QWHY 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.
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If 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.
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& {% g& L2 y: KWe don't quite get it.
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1 g6 l0 N1 c, q/ p0 U5 F0 M8 L3 Z( k, rWe'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. 1 o6 k# d8 e" p7 }0 M
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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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# D; Q4 Z* `' w/ L4 UEvery expert in the world says oil prices will not collapse, due to world-wide demand. The price might drop by $10 per barrel, but oil- sand operations can still make a profit at those levels.
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Stricter environmental safeguards will increase the cost of production, but won't severely slow it down.
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# E$ n* R4 ^$ ?* BAnd 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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