Wyoming's pricier homes on the range
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- Опубликовано: 6 сен 2024
- Teton County in Wyoming is home to the widest income divide in America, with a median house price of more than $3.5 million and an average income of $312,000. Correspondent Ben Tracy looks at how the wealthy, drawn to the state's picture-perfect settings, have been squeezing out the middle class - the very people needed to keep the community running. #wyominmg #jacksonhole #tetoncounty
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As a Wyoming resident I think I can safely say Jackson Hole is not really a representation of what Wyoming is all about. It is where rich people go to have a fake "western experience." It is actually the complete opposite of what the rest of Wyoming stands for.
Bluest county, politically, in the state. Notice the rich guy who contributes to the "charities" -- they're all "environmental" - nothing to help with housing or cost of living for locals.
I live in New Mexico and what you describe is Santa Fe where the middle class is very small.
Sounds like Park City, Sun Valley, Aspen and Taos as well.
Silver lining is they contribute over 30% of the state revenue, used to fund social programs. My advise to the governor, county commissioner and mayor, appreciate them and use them to benefit the state. Organize a meeting of these billionaires, get them to setup thier headquarters, warehouses, factories and industries in the state, to take full advantage of no corporate tax.
I knew this story would fail to get to the root of the issue in all these mountain resort towns: not enough housing and wealthy coastal elites buying homes, sometimes second homes, at hugely inflated prices, and low wages for the local workers who keep these towns going. This goes on for years, sometimes decades, until the town gets to the point where they finally look around and realize that their town is slowly dying because there's no one left to work menial jobs because they can't afford $2000 a month studio apartments.
And Eric W., this goes on in England too.
You nailed it, Eric W.
See my comment. Same in lower Delaware!
Until home ownership is progressively taxed, there is nothing that will change.
@@jfkst1 It actually is thru property taxes - the problem with Jackson is that the rich save because they dont have to pay CA, MA, or NY income taxes - for instance, if a ceo from CA makes $100 million a year, by making Wyoming his home, he would save $13 million a year in state income taxes. This is the same reason people are moving to TX, FL, TN
The problem lies with limited land use availability and ability to run businesses as CEO, CFO, owner from anywhere in the world.
Commenting here as someone that has lived in Jackson, Wyoming for over 40 years, I can tell you that the problem has been kicked down the road for many years, and the expensive band-aid approaches to the problem barely make a real dent in the issue. Any house sold, is sold to someone wealthy, period. When an homeowner dies, perhaps children can inherit the house, but can they afford the taxes or must they sell the house and move somewhere else to divy up the proceeds among family members? The problem isn't just with finding waiters are retail workers; the professional skilled trade workers that things running, including town, county, and local state workers, are being squeezed out. Where there are no more electricians, plumbers, carpenters, painters, locksmiths, auto mechanics, and much more, how will it turn out? As the semi-distant towns that many of the workers here commute to and from become larger and offer jobs there, they won't supply the workers here as commonly. A one bedroom studio averages over $2000. A 2 bedroom, over $4000. This lie about who actually lives here yet claims residency and takes advantage of the lack of income tax means that many of the houses owned by the wealthy are hardly inhabited. A few weeks a year? A few months? Then they are taken care of by property managers or caretakers, possibly rented out. Many simply are NOT residents, but infrequent residers. Land here is very limited, and expensive. 97% of the county is state or federal land and only a few percent can be developed. Some lots are so restricted, only 1 house can be built on 11 acres. There is no legal place to put a mobile home other than the few old trailer parks that are also under pressure to be sold due to the price offerings. None of this was unforseeable as the direction has been underway for many years.
I live in the northeast and some ski resort towns are really similar they are nice but you can clearly see the difference between the haves and have not’s
Land use restrictions are a major part of the problem, if dense development was allowed things would improve.
@@kevinwoolley7960 but that's not what the citizens of Wyoming want for the State. They don't want population there.
Is it possible to develope scycrapers in the area to host small affordable apartments for low medium wages workers to rent?
@@deepdude4719 There are height restrictions keeping buildings lowish. It was 3, not sure but that may have gone up, but no skyscapers.
That guy who “plans” on donating 1/3 of his tax savings…would love to see a followup on his donation next April 15th!
Donating his tax savings to “non-profits” - just another tax shelter for other rich families. It’s a massive shell game. Pathetic.
@@craigevan9649 totally agree.
Isn't he generous! TAX savings cost this "generous" guy NOTHING. I wish people understood this.
@@cbrashsorensen Literally costs him nothing, and yet he is still only willing to commit to contribute 1/3 of it...
This is happening to all of the good places now. Greed rules the day.
“Good”
Exactly!
Greed and inflation…rules the day.
it's ok, when SHTF you know who is getting carried out in the middle of the night first.
Well; It has been in Western NC for several years by the "Snowbirds". They just had decent savings so the "modest means of housing and "Dolly's Gatlinburg sated them for a while..." But now I say; things are going the other way". They got millions out there (or worse, remember Morbidly enriched) and headed this a way! Perhaps Marjorie Taylor Green is their new "humor outlet but; it ain't flipping funny no mo! Come on out here folk. Carry her water up in the Hollar! Good Canoeing an watersports round here too. Banjo lessons? Up to you! LMAO!
I'm a Wyoming native and Jackson Hole is not typical Wyoming in anyway now. If you're not rich you can't live in that county because of the wealthy. They destroyed the middle class and drove them out of ancestral homes.
And yet, Wyoming continues to vote in politicians that allow this disparity to continue. Wyoming's people want to think that they are independent but are voting against their best interest and are helping to spread that problem to the rest of the nation.
@Wesley Buirkle The same thing, as in massive income and wealth inequality. And you think Republicans are going to make it better.
@Wesley Buirkle Teton County is the ONLY county in wyoming that ALWAYS votes democrat
As far as Teton, what does the rest of that district look like (?) you can be a blue county surrounded in a sea of red...lots of other states have this situation or vice versa....districts just changed thanks to the census so incumbents are no longer as "safe" as before, going to be an interesting election for sure! btw, Boebert's new district is PURPLE, not RED anymore....get your popcorn, folks....there's 3 new blue counties in the mix and Aspen is one of them.....
It’s like gentrification in big cities
Been living in Jackson for 8-9 years now. Working for the same business for 8 years. Within 6 months of starting I was considered one of the most senior employees. Now there’s only 3 people including the owner who have been around longer than me. And despite making 65-70k a year. Im thinking about heading home to Texas. Despite loving the town. Loving my local watering holes. Having working relationships with many other small local businesses that I have gotten to know over the years. It sucks. Because if you can find a spot, it is a great place to live. But unless you can afford to purchase property, you can’t actually count on housing to stick around. I have helped several friends move that before the pandemic they had lived in the same place for a decade or more. Now some of them have moved 3-4 times in 3 years.
The housing issues are just so prevalent that many places won’t bother even trying to hire you if you can’t claim to already have a housing solution set up before you move here.
If nothing big changes in the next couple of years(if not sooner), this place will turn into a ghost town. Heck. We have two staple restaurants that have been here forever shutting down this month. With a couple others rumored to follow in the next year. Mostly to make space for more short term rentals for the Uber rich.
This has happened a few times to your sister state to the north.
Hold steadfast. It will get better and eventually return to the Wyoming way.... hopefully without leaving too big of scares. Keeping you all in thought and prayer. 💜🙏🏼
Ain't gentrification grand?
Sad🥲. Feel terrible for those that serve the very few🥲 I’ve been a chef for 42 years and understand your pain! The Uber better learn to cook very soon because they’ll have to! Then they’ll leave and the only people left will be Ranchers and the animals they raise! I dont think those ranchers will be feeling to bad for the Uber Wealthy outsiders then! ! Make room Manhattan your stockbrokers are coming back home! Why do the wealthy need to buy everything up! Hello it’s called VACATION FOR A REASON,!
Somehow I believe we have to BREAK IT in order to remake it.
i think nora’s is actually staying open. thai me up is a total shame though, ranch inn was great
I worked all last summer in Jackson, Wyoming...crazyville! And greed does rule the day!
The 1st girl can afford purple hair and moved to Jackson. I've been there many times and can't afford it. A lot of these people made bad life choices by moving there when they know they can't afford it. Then complain
I live in Cheyenne Wyoming.
Jackson is outside of what is considered normal Wyoming.
Jackson is where the rich people go to pretend to live the Frontier life.
The high prices keep the "undesirable" poor people out. Really, the disparity is a fact of life. Rich people only need poor people for their low-paying service industry.
Cheyenne should be the wind generation capital of America.
Jackson is to Wyoming as Big Sky is to Montana as Aspen is to Colorado. Uber rich areas that cater to the ultra wealthy, where residents demand all of the amenities, then turn their noses up at the people who make the town run as they live in vans and hovels, stacked on top of each other.
@@RocksOff72 My father painted the murals in the Cowboy Bar in Jackson. You are right. Wealth has been cancerous in the West. Isn't money the root of evils?
@@MikeJohnson-nj1ry money CAN be the root of all evil when it's allowed to corrupt those in power and crush those without a voice.
6th generation from Jackson. Trying to stay there was unrealistic, grew up there left in 06 went back after service in 14. It started in the 90's but it went into overdrive the last few years, full disney now good luck meeting anyone local that's been there longer than a few years.
I know exactly how you feel. I left in 1988.
Those of us that have lived in Wyoming for decades or lifetimes, don't even consider this part of Wyoming anymore.
Its really not. I have lived in jackson and worked all over Wyoming and its really nothing like the rest of the state.
Jackson is in the middle of the best part of wyoming. It's a shame wyoming has let it turn into what it has for financial benefit. The way it's going wyoming will sell its last wild places to the elites and only the barron Prarie will be left for the working folks. Wyoming turning into Colorado now.
@@THX5000 what's the big difference between Jackson and the rest of Wyoming in your opinion?
@@evanoc The wealth and money in jackson is insane. 30 million dollar houses.
CBS should produce a segment on the ultra wealthy of Martha's Vineyard and White Privilege.
Jackson Hole seems to be about every ski resort in America. County planning did not make affordable housing a priority for there service industry. No one wants to be working three jobs in order to service the wealthy or live in a so called one room just to live. It takes a diverse community in order to survive not just the rich flying in with their private jets.
Beach resorts seeing the same issue
Vail has done a little better.
@Richard Yurick because Aspen became the “in” place just up the road.
Yet in the 1960’s one job payed enough to afford a house we need a $30 a hour federal minimum wage
That median income is insane. Considering I actually live here and everyone I know makes around 45,000.
Right. I know I am lucky and have stayed at the same business for 8 years making it into the management team. And my 65k salary still is tough to find real housing solutions here. I’m over in Blair just waiting for the new owners to decide they don’t want to wait for the old tenets to move out and go ahead raise us older tenets to the now average 2000-2200 a room.
I believe this report said 'average income' and 'median home price'. Why they would use average on one but median on the other is beyond me. I thought he was about to compare average vs median income to show how much the rich have skewed the numbers, but instead went to median home prices. Unless we can compare average to median numbers, then that average income doesn't mean anything; it only takes one millionare added to a group of 100 minimum wage workers to skew the numbers to amke it seem that everyone makes $100K a year. Median income numbers are what we need, and would more accurately represent what is happening there.
@@alostbard been meaning to go look. But my boss has been telling me to get on the affordable housing lists. Figured I made too much so never looked before. But according to her the income threshold is somewhere around 130k.
How is that any way considered the threshold for affordable housing anywhere in the world.
Bozeman MT is becoming a lot like this.
Jackson is a nice town but has greatly changed in the last decade.
Median in Bozeman sits around 850K... in a state that's in the bottom 5 of average salaries. How does that even work?
Bozeangeles? The newcomers shrink in horror when you call them that. They know they ruined it.
This isn’t just an issue in Jackson Hole but in many ski resort towns in the US. Service and resort workers who are the lifeblood of the community can’t afford to live anywhere in or near those towns.
It's a nationwide issue. Every place that is considered cool and beautiful in our country and the world is under attack from the real estate scammers. They could give a crap about affordable housing, or their slaves finding, or affording a place to live anywhere near where they work. They absolutely wrecked the Lake Tahoe region. A place that used to be fun and affordable for everyone. Not anymore, a no fun ghost town now. With a one bedroom for 5 grand a month.
Jackson is just a very good example. Often considered one of the most extreme.
The Hamptons work force has same problem. Jackson Hole is just like Aspen, CO. - please do a story of Aspen too
Did this young girl not do any homework BEFORE coming to WYOMING?
Young people come to recreate and work for a season then can't bring themselves to leave until the effort to stay overcomes the beauty and fun of the place. I have been here for 35 years and have done very few of the summer things I had wished to do because you have to make as much money as you can in the high tourist season. I left a few times and couldn't stay gone. Bought a house in Idaho and today spend $25 per day to drive to work.
I don't envy the rich, cause I sure would like to be in their position. But these days, its seems like if you are not a hedge fund manager, RUclipsr will millions of followers, traditional celebrity, a Kardashian, born into inherited wealth, work in big tech, you really don't stand a chance in America these days. Right now, I live in a basement apartment here in Washington state. Yesterday, I went to leasing event for apartments opening up not too far from where I live. When I looked at the demographic of people applying and those already living there, I noticed something was off. When my time came to apply, the rep on site was clear, this is low income housing and if you make over 44,300 you won't qualify. I make barely over that. So, the reality for me is, I either make too much or too little. Yet, I do my part, go to work 40 hours a week, stay out of trouble, cook all my meals (rarely eat out), diligently pay my taxes. Yet, I can't even afford a one bed room apartment. But someone with 2 iPhone 14 Pro Max's at that same leasing event somehow can qualify. I am sure its the same taxes I pay that's subsidizing those so called income earners. Yes, its a rant, but its telling how unbalanced America has become.
Looks like you may need to take a week or so of unpaid leave to adjust your numbers. Maybe shovel snow for a week or so off the books to stop gap your salary.
An iPhone is a status symbol and the poor want to be part of the status quo.
watch out ladies... here's a special one@ !!
And how did this happen? Republican policies that lowered taxes on the rich - and did nothing for the poor. It's ironic that many working people support Republicans, who do nothing for them. I'm rich. I got a $1,000,000 tax break from changes in the estate tax. What did you get? Nothing.
Republicans hide their economic agenda by talking about social issues - transgender bathrooms, CRT school education - so people will vote on those things, not their economic interests. Only Democrats actually do things to help the lower/middle class.
The system is rigged against the lower/middle class because Congress is owned by big business. When the Supreme Court decided Citizens United, it opened the floodgates to corporate giving. Politicians need tons of money to run for office. So, they end up indebted to their big donors. These problems start with government decisions. Those decisions are driven by the needs of the rich.
Now, back to Jackson: I know two people who have houses there. They are hedge fund managers with $100,000,000. They don't have a 2nd home in Jackson; it's their 4th home: San Francisco, Napa, Hawaii and Jackson. They have no real commitment to the area. If they did, they would buy some land and build some moderate price housing for the people who work there. The truth is: they don't care. It's just somewhere to go for a few weeks to commune with their super-rich friends. Then get their NetJets flight out when they feel like it.
Sounds like a typical socialist who hates America. Why dont you move to Europe you hate America. PATHETIC SOCIALIST. You did not work hard enough nor did you vote for the republicans enough, A LOSER! You want 80% taxes to pay for your pathetic woke movement. MOVE TO FREAKING OREGON SO YOU CAN LIVE THE WAY YOU WANT!!
Sincerely
Tucker Hannity Donald J trump and junior
It went Hollywood after the airport expanded to handle jets in the early eighties, when I lived nearby on the rez... a shame. Now it's like Rodeo Drive, and all the service workers in town are almost homeless. Worse, it's spreading south into the relatively un$poiled Green River Valley, one of America's last best places... ugh. Flathead Lake is going Tinseltoo.
The airport expansion was the death knell for Jackson. Every time someone mentions expanding our small mountain airport I bristle with contempt. Over my dead body.
Flathead Lake has citizens that are rising up and saying no. I do not think Jackson Hole and Aspen had that.
These comments are more interesting than the story. But the answer is ...
It isn’t as easy as “tax the rich”. And “tax the airplanes” isn’t it either.
Rising up in revolt over the rich is pretty extreme.
But it certainly is an issue worth discussion!
95% of these wealthy “refugees” only live there a few weeks a year.
The same thing has happened to Texas. Most of America is becoming unaffordable.
Montana is similar. Very wealthy as well as the struggling move here and we are seeing the divide growing.
Kalispell, Whitefish, Bozeman, Big Sky...I won't mention my town... it's getting ridiculous. We have a $114K income to median house price disparity right now.
@@RocksOff72 Don't forget Missoula and the Hamilton valley. Aye.
@@rebekkad.2092 yep from Missoula down to Sula, forget about it.
Yes and Ted Turner & Brokaw moving there & encouraging other Hollywood types to come has not helped. Funny thing is, those wealthy care nothing about how those who work for them have to live. They could do something, but notice they do not care.
@@RocksOff72 My friend is in Kalispell for five years. She still finds it marvelous, friendly great people who love their state. She is involved with many others determined to keep it from being Bozeman.
All the people down the thread saying "she CHOSE to live here" are revealing an incredible level of willful ignorance by completely missing the point of the conversation.
Literally, not one comment said that.
Regardless of the point of the conversation the fact is the economics of every place on earth change over time some very subtlety some very drastically, up and down. That is the world we live in. No one is entitled to afford to live in a town tho everyone is welcome to move or figure out a way to make more money to stay. The only argument I could see sticking is if a persons property taxes were raised so they couldn't afford to stay on land that is theirs, that would be unjust. But rents being to high in a town? There are more than enough cheap cities and towns in the country. She need to make more money if she wants to stay there. Money isnt rare its everywhere you just have to put in the work to get it.
@@nickg2561 My kids were born here and couldn't stay, that my friend is the antithesis of community. This is a pretty destination but not a community for the generations.
@@theholepicture why couldn't they stay? Who was keeping them from staying?
@@theholepicture it's a community for generations for those who can afford it. That goes for ANY and ALL community. Any community that has homeless people is too expensive for that portion of the community.
Same exact thing happening in Sussex County Delaware. Everyone is getting priced out of living here and only the very wealthy newcomers can afford the mini mansions being built here. No lower priced housing or even apartments will soon shut down all the nice restaurants and shops because there is no where to live. Current homeowners and farms are being pushed out. It’s gentrification on steroids.
Don't donate to non-profits, start your own that helps people afford to live there. These are the people that get mad when restaurants are closed because there's no staff, and there's no Instacart drivers to buy their groceries. No one can afford to live there anymore, and it's their fault.
It wasn't the fault of those that moved here, it was the planning and zoning people who zoned to attract them and repel us.
I think proprietors should think about providing living quarters for those making low wages to keep the businesses going. Like dorms. I know in Tahiti, they do that at the resorts where I vacation. Jackson Hole is actually pretty snoozy compared to Aspen.
Stayed at the Snake River Lodge there once, can’t say it was all that memorable.
if he wanted to donate he should build apartments near and keep the rent affordable for people working in the town. Talk to the county about a tax break on the property as long as they keep it rent controlled. They need workers there in the city.
That donation was just a ploy to curry political favor.
@@n0validusername very possible
Apartments are limited to 35 foot tall.
This is what an unregulated real estate economy gets us. We have uber wealthy people building huge, ugly homes in middle to lower class neighborhoods, jacking up property taxes. Also, regular homes being sold for much more than they're really worth to people who could afford to buy in other parts of the county. Can we create havens in certain neighborhoods wherein there are limits to these occurrences?
The people with to much money don’t think they need anybody because they can buy anything they want with money🤔😳 boy are they in for a rude awaking!
Wuomingites are experiencing free market capitalism. The reason California, Seattle and Portland have their problems is the cost of living skyrocketing over the last few decades because too many people want to live there. Same is happening in wyoming.
This is happening in so many states...the middle class is being pushed out...I am looking to retire soon and move south...I don't know if that will be possible as the cost of living and housing has gotten so expensive!
@snow40741, it happening in places like Texas too. Fredericksburg has been invaded by wealthy and Main Street businesses now cater to them. Native Texans can no longer afford homes there.
@@MTknitter22 I understand this...I have family in Texas, Florida and Puerto Rico...all them are saying housing has gotten expensive and people are being pushed out!
"Teton counties is one of the most philanthropic communities", eh? I guess that makes their inequalities a ringing endorsement of their efficacy. No hypocrites there.
Elizabeth Hutchings is part of Shelter JH, which is a non profit addressing the housing crisis in Jackson.
I was blessed to be born and raised in Jackson Wyoming. I still deliver electrical supplies on a daily basis there 30 years after I left there. I did the Jackson Hole 500 from eastern Idaho everyday for many years. After Obama came in to office the road and construction industry there took a hit. I was without work for over a year. Even when I was growing up there we called it poverty with a view. If I were ever blessed to win a huge amount of money Jackson Wyoming would be the last place on earth I would ever consider living again. The valley hasn't represented traditional Wyoming values in a very long time. I was the last generation I believe to have seen what that looked like there. I'm glad that there is so many philanthropic organizations. Is the reason for tax purposes? A sense of of guilt? Or is it truly wanting to give back? It will always be the place of my birth, and where I grew up. It will never be home again.
I live in Jackson Hole. I work two (sometimes three) jobs and I’m lucky enough to live in town only because my employer snagged a room in one of the “”affordable”” housing developments in Jackson. There are four of us in a two bedroom apartment.
and I thought the military had tight accommodations.
@@n0validusername it’s by no means unlivable, it’s great to be here. Just sharing my experience
@@greenweiser Still should not have to live in such conditions with so much space around you.
@Benjamin, may I intrude and ask why you would be there? Would it make more sense to work somewhere else and then vacation in gorgeous Jackson Hole?
Dude stop lying to yourself about your accommodations. I need my space. I live in a home I own in Albuquerque. 1700 square feet to myself. Good luck, but I wouldn’t live there.
Taos, NM is the same with ultra rich and no housing for the workers. It is a crisis and needs to be addressed somehow. So many homeless in so many cities in the country. I guess we only want to celebrate those who have money. Very sad how we have no kindness or empathy in our culture.
Sedona Arizona the same. It went Hollywood and now it’s ruined
And the answer?
@@brucekuehn4031 I don't know what the answer is. Identifying the problem is the first step. There are no easy solutions. Housing is a HUMAN RIGHT and our country cares more about money for corporations than for people. It is an issue that needs addressing.
Country wasn't built on kindness and sympathy.
42% of Taos' housing stock are second homes that sit vacant much of the year. You also have a huge STR problem, a huge low salary problem, and, like everywhere else, a lack of housing problem. All this has lead to a median house price of over $1M in Taos.
you can thank the show Yellowstone. all the rich coming in and kicking out the middle class.
Yep!
Started long before Yellowstone although that is a contributing factor.
people always vote against best interests
Another thing that I think should’ve been added to this report was how the towns in neighboring Idaho, on the other side of the Teton range have also been greatly affected. For many years people on the Idaho side are having to commute through the dangerous Teton pass to work in Jackson. It's not new, but there's been an increase after the pandemic.
They have been doing that since I lived there 15 years ago
I know someone who did just that... settled right down in the middle of Trumpland ID. Oh, lets not forget how racist these areas are too. Just white middle class until they're pushed out too!
"Starting to"? Very Newbie of you.
I was doing that for many years. Lack of road construction about 15 years ago changed my direction. Now I deliver electrical supplies to Jackson M-F. I still fight the pass.
@@cletusvandamme6262 You are right, its not a new thing. I was more referring to the increase of people moving to Idaho after the pandemic.
Ouch - $12-30 million properties… but none of the luxuries cities provide. Even if they all moved out/housing market crashed, those properties would still be unaffordable for someone making $50-60k. And yup, without the middle-class workers, there won’t be support in the towns; they’ll become ghost towns. Why aren’t there taxes there? It’ll be interesting to see what happens as we move out of the pandemic, but I hope the middle-class (myself included!) somehow makes it and doesn’t just scrape by.
Unless we allow slavery again--someone has to make the American oligarchy happy.
@@cbrashsorensen we need a French Revolution in America
Hope the millionaires enjoy basically no services and lots of homeless rows.
Been to Jackson. Not a western town. Tourist town. That's the way that it is and that's the way it will always be. Get over it.
Why whose going to serve him his coffee and such if the "non millionaires" have to leave? (insert sarcasm here).
“Jackson Wyoming is often called the ‘Last of the old west’ ” well, lemme tell you about Rawlings lol
Vail Resorts is the Trendsetter when it comes to labor and housing. They wrote the book! Anticipate this getting worse before it gets better.
At this point, no city in America is affordable or “cheap”, outrageous!
In the Midwest there is
Sure that financial advisor came to Wyoming for the "waters" but, was "shocked, shocked" to find he paid no state tax. Just like the scene from Casablanca, it shows the hypocisy of the rich.
South Park did an episode called "city people" which better explains this phenomenon.
I drove through Jackson like 15 years ago and it was far from the “last cowboy” stand depicted in the beginning of this story. It was so yuppy I had to leave, quick.
It didn't start with Covid, it started when the ski resort was expanded to include intermediate runs coinciding with the paparazzi title-talling on the residence of a famous person that gave the place an aspen style of cool. This in a place where there is only 3% of the land is privately owned, half that is set aside in conservation easement, then the remaining 1.5% with height limits. The county commission and city council has done all they can to zone for the wealth and not for the blue collar worker. I can't even read the local newspaper because a regular talking point is to address this but it is only words. When you shorten the supple, things get more expensive.
The last bastions of truly affordable housing are Detroit, MI and the Rio Grande Valley in Texas. I am considering moving to Brownsville or Harlingen, TX after I retire.
But @Taco Cruiser, indeed because of the high crime and border issues in Rio Grande Valley, I am sure you can get a good deal on real estate.
@@MTknitter22 Actually Brownsville has low crime rates compared to many parts of the country.
Think outside the box - Wisconsin has lots of small towns struggling for years with low populations. The people are generally very nice and welcoming. The environment is in darn good shape and outdoors people have plenty to enjoy!
Communal living? Communal housing? Housing connected directly to the employers? Employment agencies with housing provided?
Just trying to think of some answers.
Sounds like a throwback to the late 1800's when workers in mining towns lived in company housing and were paid in scrip that could only be spent in company stores where the company set prices. It's a half step up from slavery.
You load 16 tons, what do you get?
Another day older and deeper in debt
St. Peter, don't you call me 'cause I can't go
I owe my soul to the company store
@@Don-md6wn That is true. And a favorite song of Tennessee Ernie Ford.
How do we make it more fair for the lower and middle classes to serve the whims of the rich?
As a small percentage of the population has devised ways to extract money from us, how do we turn around and take money back from their fat pocket books?
@@brucekuehn4031 I think a significant wealth tax (annually) is a starting point. Income taxes aren't enough because the mega rich don't even need income and income is too easily manipulated. Also, in mega rich areas like Jackson Hole, relax zoning restrictions to allow for enough subsidized low to moderate income housing for people who work in restaurants and other service sector jobs to live decently. Raise property taxes on high end real estate to pay for it.
First , rent goes up by such an absurd amount each year that a reasonable plan ahead of time is obliterated by rising costs. An example of my own life experience is in western Montana. Born there and don’t want to move out. I work wildland fire so I’m a seasonal as well. Rent prepandemic in this town was 950 for a one bedroom (still high), then by this year was increased to 1800 for the same room. It’s easy to see how it gets out of hand quick and in a hurry. Second, most of these towns were how people back in the day used to live in an area that supports an active outdoor lifestyle (guiding, outdoor field work/biology tech, logging and wildland fire to name a few) and what a lot of local people wanted to do with their lives. Now those careers have been obliterated by snow birds and retirees who simply wish to have a “western experience” for a few months of summer then head on vacation for the winter, while owing 3 homes. And don’t get me started on all the idiots who show up in Montana because “Yellowstone is my favorite show”
Philanthropic? Perhaps help your local citizens and be Jacksonthropic. Give back and help people in the community that service you….
According to real Wyoming folk, Jackson Hole isn’t even considered Wyoming. It’s 1% of the whole state
The rest of Wyoming hates Jackson because the new people often vote in opposition to the res of the state. Decendants of the pioneers are moving to other parts of Wyoming that although have different scenery still has the values of old.
Jackson is the extreme, but similar situations have been happening for years in Colorado as well, around the Vail resort properties - towns like Aspen and Breckenridge
Tucson, AZ is unaffordable now. Many homeless people, drugs, crime, low wage, high rent and mortgages.
Apparently these rich people don't tip very well or she could afford an apartment. And tradesmen should charge these piggies a premium. Some of these working class people need to take over the city council I'm sure they outnumber the rich people. Create a little village nearby that has low income housing and protections.
I probably shouldn't say this but Rexburg, ID. is nearby and is experiencing its own boom. You should report on this.
Estes Park Colorado is another mountain town where the rich have priced the workers out. Now the town wants to build housing for workers that service the rich. Estes used to be a nice place to live until the Billionaires in Aspen kicked out the Millionaires and they moved to Estes Park.
$6million town homes? Then she should be charging $1,000 for a cup of coffee.
Is it worth it? I’d like to see all rich people and no one there to provide services. Then real estate prices might come down
EXACTLY!!
it is Beautiful state yet more a state to visit
It just strikes me as wealthy people playing dress up. Or "dress down" I should say...
Keep Wyoming red 🇺🇲
Jackson Hole to Wyoming is what LA is to California or Boston (I live in MA) is to Mass...It's not indicitive of what the state is at least from real estate or equity standpoint. The wealthy have the luxury to buy in these places and if I had the means I would do the same. That being said, there are many amazing places in Wyoming, California and Mass that the wealthy haven't ruined....yet.
What a bad joke. I love Amerika. The Virginia Blue Ridge is going through the same transition.
Those cool rich people make you feel sorry for them when they visit to entertain you
Every community needs a basic infrastructure of services the very rich are not likely to do. I would suggest that the inflated prices billionaires are willing to pay are sufficient to cover two lower income residential mortgages as well. this would insure at least a two to one labor force so the town doesn't collapse.
Sign of the times. Colorado ski areas are very costly while employees try to survive. I have several Colorado born family and they work hard to live here. One of my daughters and her husband left Steamboat after many years and live in Florida. Times are shifting and people are moving around to find their place.
And those new Wyomingites spend their winters in their Florida condos.
This isn't difficult!!! The essential service workers either need to start charging enough to live there or they need to leave and let the rich people take care of themselves.
As a Cody resident, born and raised, I’m really scared Cody, WY is next.
It is, and every other place that is decent too. They made their own state unlivable and now they are coming to yours to do the same thing.
Come JESUS COME
It probably is. We were just thru Cody and the surrounding area is beautiful. I’m from CO and got “homesick” when I saw Cody. We’ve been priced out of mountain splendor too. I’ve lived in CO my whole life (70 years) and I’m holding on to my home (on the front range) where I’ve lived for 40 years hoping my son can stay in CO when I’m gone. He may decide to sell but I’m not sure where he’d go.
Pretty much everywhere in the U.S. that is scenic is way down this road due to massive wealth and income inequality.
It's already happening. You're in denial, sorry to say.
Wow, that bad there too? I visited Jackson hole a long time ago, and i live in SF. No state nor corporate income tax?
How much land and multi million dollar homes, are being bought up by corporations, not individuals?
Same problem in colorado mountain towns.
The Aspen effect. You let a place turn into a playground for the uber wealthy and there's no one to do the actual work. California gets major knocks for our income inequality and it's true the influx of tech wealth has hurt places like San Francisco, but at least we tax them and try to do some good with their wealth. Good luck with letting Wyoming become a tax haven for the rich. I'm sure that will work out just fine.
It's wealthy people moving from places like CA that are the problem, when you tax the wealthy they move
While living there in 1980 had I purchased a house I'd be a billionaire today? 🤣
You probably would
That was my couch!!! How did it get there from
Sun Valley, Idaho? Sorry, ask the people from LA county how many hours they spend commuting. I live in a similar town with similar problems. People with 50,000 dollar cars getting food from the food bank.
CBS News needs to talk about Ecosia they are a search engine that plants trees
I was born and raised in Wyoming and left for California in 1988. This is not a recent trend as the news describes it this started 20 years ago and it was all because of the controlled growth because of most of the land being Federal lands and not letting people buy land and build what they want. Harrison Ford tried to build a huge place and it had to be a certain height and blend into the environment. Wyoming was not going to allow an Aspen, Colorado to happen. It is the elites causing this, look at what is happening in Park and Big Horn Counties since Kanya West bought those two ranches outside of Cody and Shell the same scenario.
Is there a disparity between homeowners and lower middle class workers? I think the answer begs the question. What is the solution? Be realistic and move elsewhere. People romanticize living in places like Jackson until they're sharply awakened to the brutal realities of life. Do your due diligence. Know ahead if you can afford to live there. Nobody owes you a thing unless you agree to work for wages an employer offers. Start a business online. Build it to a stable five figures a month before you move to Jackson. Come in better positioned. Stop whining about low pay or expensive rentals. It's your own fault if you dive into five foot deep water from a 60 foot ledge. The person who can help you most stares back at you in the mirror.
Yeah, just build an online business to a stable 5 figures a month. 😂
We lived full-time in Jackson for 5 years. We bought and sold a Condo at the Racquet Club and then a house in Melody Ranch. We left in 2005. Those properties have more than quadrupled in price over these 20 years.. If you can afford to buy into Jackson real estate you can count on making a huge profit when you get out. But it's oh so hard to get into the game and you have to leave when you cash out. But you'll be much richer.
Absolutely @Paul Green. My family did the same in Montana. They are so thankful they went to the gorgeous Flathead Valley and bought their big ranch. Congrats to you that it all turned out well for you too.
And The American Dream and being a good neighbor is all about getting richer, right? Thank you for your input.
Paul Green you’re part of the problem.
Lake Tahoe basin also having the same issues.
Let them mix their own drinks
Jackson was expensive in 2018. It’s disingenuous to move there and then whine about the high cost of living. It would be like moving to Phoenix and complaining about heat. You knew what you were getting.
I saw this same trend decades ago when Santa Fe became 'hot'...now WY, Austin, Savannah, all over.
The world is a disgusting place.
Earth is still the best place to live by far! 😊
Yuck. The rich techies did the same to Lake Tahoe and other places in California. They all decided to move to the lake during the pandemic, forcing housing prices up to levels regular people who work in the tourist and service industries there can never afford. It's gross.
so people with money move in and people with no money leave and then what who will work the bar then? the town won't last
Interviewer apologizing for asking the billionaire investor about his ability to buy a home. THAT made me laugh and totally downgraded this RUclips into an apology "puff piece" for the wealthy. I live in a similar western town filled with part-time home owners on #2 or #3 or #4. Lots of job vacancy signs, homelessness, personal crime, etc. We all KNOW the solution but fear retribution from the American oligarchy.
In the 1970s, you could not live in Aspen, CO and work - you had to live 45 minutes or more away.
In the early 2000s, the Lake Tahoe basin (CA/NV) became the same way....only the rich could live there..workers had to live 45 minutes to an hour away.
Sad these beautiful places can only be lived in by the wealthy.
A whole third of his tax savings… wow what a generous man
Equitable”” the language of the poor!
We came from California. We sold our home in California and had plenty of money. Fortunately we camped out in our camping trailer three months and learned the ways of True Wyoming. We love those ways. We bought our home and feel so blessed. This is by far the best place in America. We live somewhere in central Wyoming. Over one hundred miles from Jackson.
What does "True Wyoming" mean?
Went to Jackson Hole a few years ago, no place for people that work there to live. Some people have to sleep in their cars. There are many other places in Wyoming that are much nicer I would never live in Jackson hole. Local wealthy people have bought up so much land that there is nowhere to build affordable housing.
This wealth manager was only chasing the $$$. I don't blame him. Smart man.
No one is trying to live in that fly over state.
…..Tell that to the thousands of Californians moving there!!
0:40 Awww! 😍