(Source: Calgary Herald)
The mountain pine beetle infestation is likely to affect real estate values in Alberta over the next decade, says a report released today by the Real Estate Investment Network.
“These tough economic times coupled with pine beetle aggression have lead to the closure, both permanent and indefinite, of over 13 mills across Alberta,” said Don Campbell, president of REIN and author of two bestselling books on real estate.
The REIN report says forestry is the primary or only industry in over 50 Alberta communities. From a real estate investment perspective the forest-based area of Alberta that may experience pine beetle related hardships fall into two categories.
Read Mario Toneguzzi’s full article “Pine beetles likely to dent Alberta’s real estate prices” in the Calgary Herald (August 17, 2009).