Somewhere between 2013 and 2015 oilsands production is set to double. Increased demand in the U.S due to the decrease in oil supply from Venezuela and Mexico make Canada's oil not only desirable but the natural choice.
The first $2Billion dollar pipeline was approved last week and many many more are coming. So what does this have to do with real estate?
At the peak of the mini-boom in 2007 Alberta oil companies couldn't find enough people to work in the tar sands now with plans to double the work force will have to increase as well.
Edmonton as the closest major city to the oil sands (with reasonable housing prices) is going to attract a lot of renters and potential buyers over the next 2 to 5 to 15 years. How does that make anyone money? By either owning the properties for sale or rent.
Don't forget -
During the gold rush entrepreneurs who filled a need serving those who panned for gold made most of the profits. Alberta is in a modern day gold rush and the strongest demand in this province is housing. Areas that are “hubs” are those that are seeing the highest increases in housing values. Edmonton’s strategic location between the multi-billion dollar Alberta Oil Sands projects in Northern Alberta and Calgary, make it the center of all the action.
So would you rather pan for gold or sell the pan, shovel and tent to the worker?
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