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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html
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& }1 F( R; j8 U$ @7 p' X6 B' \WE ARE PETRO-CANADIANS
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6 s4 q. ?- S8 ?Due to the climate of political correctness now pervading Canada, Albertans will no longer be known as "Rednecks." $ f1 D+ t% U1 y0 s
( _/ b% g- [( }4 E5 x& bWe must now be referred to as "Petro-Canadians." & {# `2 t9 Z- b+ U) ~, {. h$ R7 D7 z
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WHY 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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7 B* b+ |. b& H: NHouse prices, with a few peaks and valleys along the way, will continue to increase. ) q8 a' Y) f; H, D! N
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We don't quite get it.
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9 I6 @! X( S# O4 P1 @/ iWe'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: $3 billion per project. 8 ^6 y$ ?$ ~; ~! ~$ w' G
' [% b' h% Z/ V6 X8 i, _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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Upgraders and big oilsands mining projects each require workforces of 5,000 to 6,000 to build over a two-year period. 4 t+ K9 K# @0 r1 v r, a
# w5 K- J# D7 x* G/ X+ D4 n- t! uTradesmen 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. . \# F* j# I; j6 Y
/ B6 X2 e# H X$ Q. M* ?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. 3 [% ]+ z# {4 K! |7 @, j9 R3 P
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Stricter environmental safeguards will increase the cost of production, but won't severely slow it down. 7 ?" m5 B8 c1 u2 b" m N" D3 d0 o
# G6 X2 s; r2 M. P J8 ?And all those skilled tradesfolks, coming with their families, have to live somewhere. + x: v* c ~" s7 W% ^3 {- }5 n
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House prices will go nowhere but up. |
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