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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html' ?0 }. C+ Z' l0 x
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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." * z- Z4 h3 [- q+ B( }4 R2 b
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We must now be referred to as "Petro-Canadians."
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WHY SELL NOW?
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6 r2 ~: E2 I- R5 y+ C5 i6 R) p6 rIf 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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Z. q. w. G5 j$ N4 e/ `If I was thinking of selling, I'd hold off until 2008 or 2010. , h, S8 K/ }/ c/ o" e( B$ V3 [
; `+ ]$ I. G, G7 h O9 L9 C9 ~House prices, with a few peaks and valleys along the way, will continue to increase. - T6 x2 c( p1 a$ N
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We don't quite get it.
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We'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. + i2 C) l: s4 T3 d8 l" X
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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.
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6 [" y3 H# u3 x/ O* RUpgraders 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.
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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. 2 } x3 @- W7 a
1 R; H- |* L) kStricter environmental safeguards will increase the cost of production, but won't severely slow it down. 2 g: s- T8 O, ]" W
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And all those skilled tradesfolks, coming with their families, have to live somewhere. $ y. J2 s( M/ ~' B+ T0 I! z
* Q6 J" _$ z) p5 @0 e* j; N1 F" j4 gHouse prices will go nowhere but up. |
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