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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html
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WE ARE PETRO-CANADIANS $ l8 R( I% T, X! V7 R
- u. s) K* `, Y* L- xDue to the climate of political correctness now pervading Canada, Albertans will no longer be known as "Rednecks."
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# ^' r3 ]; ?/ ?; p. NWe must now be referred to as "Petro-Canadians." ) d6 |) t( T% U5 ?. t( i
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WHY SELL NOW? . o+ }9 ?- P7 |; r; O% F* Y( w
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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. o* j7 w" l6 w4 q: E
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2 u0 j4 D3 @+ ?- {: y! p: {/ U$ qIf I was thinking of selling, I'd hold off until 2008 or 2010.
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; R4 ]9 l% R0 R0 I2 uHouse prices, with a few peaks and valleys along the way, will continue to increase. 0 J- `: f4 C% K; W9 [' \# p5 {1 U' r
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We don't quite get it. % B6 |/ x: w1 o% {# f+ Q; z
; \* U" z' D. y" c4 K0 pWe're squat in the middle of the greatest industrial boom in the freakin' world! $ Z0 G1 s2 w1 S6 d E! C' o
! R0 w* v+ Z* X/ P# Y! yIn the oilsands, including mining projects and upgraders, the government lists 52 planned projects in its Inventory of Major Alberta Projects website. Average price: $3 billion per project. 3 N! e: L+ ?4 P+ `6 j
+ _5 F( e; y- o$ b8 w& [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. 6 _) Z8 l, s4 F/ w* T
+ w4 e2 l- \0 h3 WUpgraders and big oilsands mining projects each require workforces of 5,000 to 6,000 to build over a two-year period. + w3 O: J1 J- ~1 J( S! s- i
' c8 k( y, N5 |! 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.
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2 [! u! u' J3 g5 Y& i6 BEvery 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. ( v5 l6 B# _7 m/ \& Z6 b7 \
# _: g" L: G3 a i/ SAnd 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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