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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html$ \& `1 y' }: S9 i8 h& ^. C5 B6 o T
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WE ARE PETRO-CANADIANS ; O: m+ n& h2 Z9 W1 |) Y
0 v- ^* X5 x$ [5 l: c* Y8 }Due to the climate of political correctness now pervading Canada, Albertans will no longer be known as "Rednecks." + t1 C$ L+ l7 |
" l$ y' {$ E$ c7 `! w+ s: wWe must now be referred to as "Petro-Canadians."
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8 v' _; ]6 z5 Y' k4 C: b% G- ZWHY SELL NOW? 4 ?1 N& ], T7 H% N" V* h% 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. : C9 E( \) f, l4 z& U
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If I was thinking of selling, I'd hold off until 2008 or 2010.
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/ V5 m4 N, P' D9 _: aHouse prices, with a few peaks and valleys along the way, will continue to increase.
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& ] G+ I3 ]2 _- U0 D& t9 h* A2 tWe don't quite get it. 7 Z. v' X. x/ z
& X5 s% Z2 J1 m2 O% V' \We're squat in the middle of the greatest industrial boom in the freakin' world!
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; r6 T: r% L3 h1 b0 TIn 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. {4 g& p# ~3 h" j; R& F" m
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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 _3 b# u8 O" g+ V4 n/ @2 a
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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. ; `* {& i. t% u/ p
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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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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.
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Stricter environmental safeguards will increase the cost of production, but won't severely slow it down.
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And 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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