As "negative" as Jack is, I as a new investor also share the same fear regarding oil. Can the experts please provide some insight?
QUOTE (Jack @ Dec 24 2008, 06:53 AM) Not sure, yet, but I`m sure that there`s a city out there that will give me a better return over 5 years than Calgary. That`s what I`m trying to find. Do you not agree that with it`s deep ties to the oil sector, Calgary`s at a pretty significant risk for job losses and wage declines? And, if these do, indeed, happen, the next effect is probably more properties being listed, and people migrating outwards looking for work/life elsewhere. Certainly not everybody is predicting another run-up in the oil price to $100. And it`s only about 12 - 18 months until the Chevrolet Volt comes out - no gas needed for the first 45 KM`s of charging it (or something like that). Think that`ll at all be a growing trend in the next few years? Um, yes.
Politically, Obama`s also not a fan of the "dirty" oil of Alberta, certainly nor is the Energy Minister that he appointed, who`s really anti-oilsands.
These are all real risks that you need to consider when considering Calgary. And is the upside worth it?
QUOTE (Jack @ Dec 24 2008, 06:53 AM) Not sure, yet, but I`m sure that there`s a city out there that will give me a better return over 5 years than Calgary. That`s what I`m trying to find. Do you not agree that with it`s deep ties to the oil sector, Calgary`s at a pretty significant risk for job losses and wage declines? And, if these do, indeed, happen, the next effect is probably more properties being listed, and people migrating outwards looking for work/life elsewhere. Certainly not everybody is predicting another run-up in the oil price to $100. And it`s only about 12 - 18 months until the Chevrolet Volt comes out - no gas needed for the first 45 KM`s of charging it (or something like that). Think that`ll at all be a growing trend in the next few years? Um, yes.
Politically, Obama`s also not a fan of the "dirty" oil of Alberta, certainly nor is the Energy Minister that he appointed, who`s really anti-oilsands.
These are all real risks that you need to consider when considering Calgary. And is the upside worth it?