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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html) v7 v7 K$ ]5 l7 o- W9 i: J: J2 t
( q l! e1 ^- W! S& R; S$ x: n1 KWE ARE PETRO-CANADIANS 6 [# z! \9 E& T
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Due to the climate of political correctness now pervading Canada, Albertans will no longer be known as "Rednecks." % m& \# S! y, {4 L
1 ^! S$ J6 i- m% m' { t( Z& u, |We must now be referred to as "Petro-Canadians." * z; r/ C' j2 h
6 T: K8 }0 O$ j' v% ~2 l8 `WHY SELL NOW? 0 w3 {( W1 j4 O" M3 e. a
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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. : _1 `; J9 @. ]1 E* w# z) ^
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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. , S2 ?, M' X" d M' t
s# d! _7 M2 `* k6 mWe don't quite get it.
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% r* Z) _+ [# w6 mWe're squat in the middle of the greatest industrial boom in the freakin' world! . a% j3 W8 a- Y/ ] r: P' y3 o
/ B3 ]% F' H; _/ U- j; uIn the oilsands, including mining projects and upgraders, the government lists 52 planned projects in its Inventory of Major Alberta Projects website. Average price: $3 billion per project. . Z. o* p- [% `$ W! M
1 B4 L, x! Y, F& |% ~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. 3 U. o( u% F2 g! x5 a+ X$ P
& w* J9 L/ M# i# wUpgraders and big oilsands mining projects each require workforces of 5,000 to 6,000 to build over a two-year period. & }3 n! `* Q2 H
. n1 y. O. y8 `1 OTradesmen 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 [5 m( o! v" W! T! v* ^
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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. % [ T4 c1 r9 Y" Q# Z3 ^
+ G& Q0 G& y- }0 D! cStricter environmental safeguards will increase the cost of production, but won't severely slow it down. % E. e5 F6 P; k; P
! r3 \+ G% v! _7 d% lAnd all those skilled tradesfolks, coming with their families, have to live somewhere. - a8 H6 r i% w0 Y: ^& t! D9 L/ V4 D
* O; r7 }( e# R. A: d' bHouse prices will go nowhere but up. |
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