Buying real estate in Alberta

[Muhammad Tariq]

I am new to real estate and own one property in Grande Prairie, AB. I am currently focused on buy and hold strategy.

Due to COVID-19 and oil prices, Alberta economy has suffered badly. I am not very knowledgeable about cycles of Alberta economy but is this normal? 

Should I take it as an investment opportunity as prices will recover in next few years as it always did? Or should I stay away from the market as there will be an era of high vacancy rates where buy and hold won't be viable?

Thanks in advance!