Pine Beetle in BC

[HaydenGreen]

Hello there

Ive been a resident of Prince George for the last 13 years, and although Im new to the real estate investment game I believe the north has alot of potential for investors and home owners alike. My concern is the article REIN touched on in their last newsletter regarding the Pine Beetle epidemic in the north, as a homeowner and real estate investor my concern is not unfounded. Ive always thought the best time to invest in a potential city is after the big companys go in. Prince George has not seen a surge in population but they have seen a spike in real estate prices making it seem speculative, but I dont believe the major companys(Canadian tire building their largest store in canada in P.G.) would take a gamble on a city that wouldnt have the potential to sustain a business of their size. To add to that the recent reports of a Airport expansion, inland container port,Northland Dodge the largest vehicle distributor in all of BC, new pipelines going to prince rupert and edmonton, completion of UNBC`s sport center and a new cancer center to name a few, makes me feel as a investor that this city has the fundamentals to stay on track given a fallout from the pine beetle devastation. A city of Prince George`s size should be self sufficient enough to maintain its current economic growth with the eventual loss of the forestry industry to the pine beetle. With the potential of the Oil and Gas industry migrating itself south into are region gives us an extra fighting chance, and as a Safety Consultant working in the oilfield it will be sooner rather than later.

thanks, Hayden

 

[DonCampbell]

Hi Hayden,



At REIN All we like to do is to provide the fact so that investors like yourself can use them, combined with their own observations to make solid decisions they are comfortable with. I think you'll find that, because we don't sell real estate an don't profit whether you buy in an area or not, that our research is some of the most detailed and honest out there.



Here's a direct link to the latest Pine Beetle Research out there. I also recommend you do a google search on Pine Beetle BC etc to see some of the other reports (good and not so good) just so you can get a balanced look at the facts. The key is the area has a 5 - 7 year window to re-build the economy in the region and with any luck the new power grid going up there will be a big boost to the local economy. (p.s. pipelines provide VERY few jobs once they are built).



http://myreinspace.com/public_forums/General_Discussion/61-700-Mountain_Pine_Beetles_Devastating_Effect_on_Real_Estate.html

 

[ProActive]

Hi Hayden,

I`m also invest in Prince George and grew up there so have seen the impact the forestry industry can have on real estate WITHOUT the Pine Beetle. As I stated in another post about the Pine Beetle Report, there`s still money to be made but a strong exit strategy within the timeframe recommended by Don is critical.

Dawn Schneider