In 1980,upon getting married, we settled in Logan Lake. Working for Teck Resources we bought our first home with a guaranteed forgivable second mortgage from Teck if we stayed for seven years. In 1984, Teck closed the mine down and within 24 hours we were out of a job. And a house. The Bank of Montreal held all the mortgages. Most every homeowner was allowed to Quit Claim on their house.
For the time we lived there, two doctors and two dentists had practices in Logan Lake. A medical center was built. The community was doing OK. The 80’s recession took its toll. We paid $55,000 for a split level home in 1980. After the houses were boarded up, they were sold to retiring seniors, after the government media blitz promoted Logan Lake as a retirement community. Our house sold for $39,000.
The lesson we learned was: “Don’t buy in a resource based town”.
Resale is hard and amenities such as medical care is not assured. The story of the doctor leaving Logan Lake brings back a lot of memories. Even at the time, babies were born in Kamloops. Then it was a 40 minute drive on a good day. It takes a special kind of GP to commit to setting up a practice in remote areas.
I wish the citizens well.