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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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+ U4 _( D* X) e* v+ [. w! WDue 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."
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WHY SELL NOW? , t! e/ A |9 | Y, R I, F9 p
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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. 8 Q. A( m/ `. Q0 z9 ~- @
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If I was thinking of selling, I'd hold off until 2008 or 2010. / B4 s" l- c! q6 v. e( ]
! x1 K7 g/ {; ^2 tHouse prices, with a few peaks and valleys along the way, will continue to increase.
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* X4 F. a* k& J3 E' \: NWe don't quite get it.
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2 r, A3 j/ d& lWe're squat in the middle of the greatest industrial boom in the freakin' world! E5 |9 g) S( i$ O- t
: t) i- ]. V* c/ J8 t/ mIn the oilsands, including mining projects and upgraders, the government lists 52 planned projects in its Inventory of Major Alberta Projects website. Average price: $3 billion per project.
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2 V$ @& a b/ j ?4 ~- `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. 2 y$ V5 G: F2 P. v
$ r. Y1 a1 G8 @" p1 r2 g {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. 7 c! f; v2 b- A) b# R6 x0 R, ]
& b6 E) n2 _ PEvery expert in the world says oil prices will not collapse, due to world-wide demand. The price might drop by $10 per barrel, but oil- sand operations can still make a profit at those levels. 6 s/ U. o! b( d `+ A$ z1 H8 v
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Stricter environmental safeguards will increase the cost of production, but won't severely slow it down. 4 Z% R' J4 B/ E
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And all those skilled tradesfolks, coming with their families, have to live somewhere. ; ]- I' U& k4 g; ^: E& p
4 g" g9 v* C, g2 T- X9 e9 r. P9 XHouse prices will go nowhere but up. |
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