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How we got here

The history of the Crowsnest Pass has always been directly tied to the Mining indusrtry as we all well know. The health of these mining companies has had the most effect on our local economy and in recession years that can be devastating. The early 1990`s were no different and because of bankruptcy issues the local giant Westar was shutdown at two of its operations across the border, A third mining operation Byron Creek was experiencing severe layoffs and the job opportunities in the area were minimal. Housing Prices plummeted and laid off workers were either letting them go or selling them cheaply. One residence in my neighborhood sold for somewhere in the low 20.000 dollar range. At that time I was laid off as well but managed to get work elsewhere and hang on to things. Over the next decade things gradually improved and production at the mines went up the same scenario our parents had gone through. Then the developers came to town and with it all the hype. Now this same residence i refered to earlier is listed and sells for around $86,000 which i thought was worth about $50,000. The new owners are esstatic and told me how glad they were to get in before the housing prices go up. This is when it hit me Peter it doesn`t matter what you think its what the rest of the world is willing to do. Watching them push dirt around at the River Run development and advertise for a 200 boat marina at Trouts Landing looked ridiculios to me but people were buying into it. By now one counciller and a former counciller were actively promting the Bridgecreek developments and the mayor would soon join in. Another remarkable thing happens the demand for housing in Alberta magically goes up and housing prices soar provincewide, the same residence is now listed in the $160,000 range. Now i am thinking Peter you really missed the boat this time you are so headstrong in your beliefs you do not see what others are willing to do.  Unfortunately time and reality has put things back into perspective and i am actually looking like i made some good decisions here sure i could have taken some risk ( nothing ventured nothing gained) but i did not see those as opportunities to make money. What is unfortunate is that people with long standing ties to this community and realized what was unfoalding would continue to be part of the deception of what was happening there. Thats the way i see it ---Peter Rosner



This post first appeared on The Miners Journey, please read the originial post: here

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How we got here

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