Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Alberta Real Estate Forum
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 5 years ago on . Most recent reply

User Stats

42,688
Posts
62,860
Votes
Jay Hinrichs
#1 All Forums Contributor
  • Lender
  • Lake Oswego OR Summerlin, NV
62,860
Votes |
42,688
Posts

Canada Alberta Fort McMurray

Jay Hinrichs
#1 All Forums Contributor
  • Lender
  • Lake Oswego OR Summerlin, NV
Posted

Wondering what is the plan to rebuild there.

I was up there about 10 years ago I bid on a commercial property and got out bid by Canadian super store.. spent 3 days there toured the tar sands ( awesome)  Just wondering what the plan is.

I owned a home in Kelowna as well. although from OR..

I suppose every contactor will be flooding north.

business profile image
JLH Capital Partners

Most Popular Reply

User Stats

129
Posts
51
Votes
Sean Kollee
  • Investor
  • calgary, alberta
51
Votes |
129
Posts
Sean Kollee
  • Investor
  • calgary, alberta
Replied

I imagine it's going to be Wild West open season for the framers, drywallers and roofers and slightly less so for the technical trades that are subject to more professional scrutiny.

A challenge will be housing those rebuilding the housing and this will drive labour cost and rent through the roof. There won't be an apartment or camp site within 100 km that isn't packed for two years or more.

The only possible restraining device here is the financial controls exerted by those with the money. The insurers won't allow the cash under the table mayhem to take place because in the end they are going to have to be accountable. The government will bungle payouts as it did during the last flood disaster where some well connected flood plain dwellers received up to $3 million ( yes 3 m of tax payer money) to sell their ruined house to the province, and others fought to get enough to gut and redo a basement and the government tried to say they could only compensate for the lowest grade vinyl or laminate rather than the hardwood and granite that was destroyed.

So in summary building 2000 houses is going to draw contractors from everywhere. Half of what will be built will be built bad enough it will be rebuilt again once the owners move in and find workmanship to be haphazard at best, and the rest will be done to a professional standard. I'm thinking some of what was burned wasn't high quality housing to start (older trailer type stuff) and likely the housing stock will overall see a net benefit, but we will be paying higher insurance premiums forever.

I doubt your going to see homes up Against the leading edge of the boreal forest armoured against future fires with metal roof, stucco, concrete etc. It'll be a vinyl, asphalt and chipboard bonanza and it'll take as much forest as was burnt to frame it all up again. Such is the way the province always has been, and will continue to do its business.

Loading replies...