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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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Due to the climate of political correctness now pervading Canada, Albertans will no longer be known as "Rednecks."
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' A6 l* s5 P2 Y; t( QWe must now be referred to as "Petro-Canadians."
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WHY SELL NOW? 6 r: U: C2 a" ]( W2 R* ]& r
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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. ! p8 e& q% Z$ r0 t! }
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0 p. L# l& v3 a2 dIf 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. 0 V$ m8 r$ F. K
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We don't quite get it. 8 j) y. H) \. l* y
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We're squat in the middle of the greatest industrial boom in the freakin' world!
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8 M- `# z5 ]. `4 f6 bIn 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. * M9 B+ P8 H1 l9 A# l4 P' ]
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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. # H! d- C5 p) R# Y
' v6 y2 Y% a0 k( f, y# ~7 N- `Upgraders and big oilsands mining projects each require workforces of 5,000 to 6,000 to build over a two-year period. $ r% b% s$ W( Z& b! ]3 I$ }
- f. t V, }, N6 s' \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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Every expert in the world says oil prices will not collapse, due to world-wide demand. The price might drop by $10 per barrel, but oil- sand operations can still make a profit at those levels. " _+ q. B+ M7 @7 U Y. j- \/ A; U
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Stricter environmental safeguards will increase the cost of production, but won't severely slow it down. # [! k! w" [& ^7 U. M9 a# ^
( y/ @# k$ O5 Q, C; K! U# `And all those skilled tradesfolks, coming with their families, have to live somewhere. 5 W- M7 p4 L% G9 s
; f, P- X# i0 s {$ PHouse prices will go nowhere but up. |
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