As it can be quite a hairy ascent with some potentially lethal sharp drops, they decided against it and took the tourist railway to the top instead (UK moutains aren't that big, eh).
As such, the most misguided part of the entire strategy was that it was enthusiastically promoted based upon obviously unsustainable cash flow returns running into thousands of dollars per week in some cases, in essence trying to turn residential property into something it is not: an income asset.
Having initially claimed credit for the successes of their clients, those recommending extremely high risk mining town strategies are now attempting to distance themselves from the whole sorry saga, deleting promotional articles from their websites and so on.
Of course it has been relentlessly tough on the poor souls who paid thousands of dollars for such dud advice, with bankruptcy the only realistic choice for some.
This is not to say that their aren't risks of my preferred approach of investing in the largest capital cities too - there certainly are - but they can be better managed with a long term outlook provided that you are sensible, keep prudent buffers to manage cash flow, and understand exactly what your strategy is.
It can also help a bit if you know what you are doing.
Price growth has been almost unbelievably strong for so long now that a correction must fall due eventually, most likely as and when mortgage rates revert higher.
Make no mistake in a period when inflation has been stuck around zero, these returns have been enormously strong, and indeed they have been over the past couple of decades.
For that reason the closest we have to a "mining town" in the Hometrack 20 Cities Index is Aberdeen, where as you can see above the crash in oil prices has seen price growth flip from double digit levels to sharply negative growth in a very short space of time.
In former coal mining towns, house prices in some cases even collapsed to zero, with the government even offering loans for folk to buy houses for a solitary British pound and then renovate them back into an inhabitable condition.