Poverty With A View, for real (Bozeman: sales, hotel, house prices)

[Shuffler]

Average home price is now $800k in BozeAngeles.

" ... median sales price of a single-family home is fast approaching $1 million. Fine, program manager for six of Bozeman’s urban renewal districts, said the median cost of a single family residence is $812,000, or $112,000 more than it was in October of 2021, and police officers, firefighters, construction workers and nurses can no longer afford to live in the city.

He also said businesses cannot attract and retain talent. Six years ago, a family of four earning $80,000, or 117 percent of the area median income, could afford a single family home in Bozeman, he said; in 2021, the same family would need to earn $162,000, or 219 percent of area median income, the equivalent of three salaries of $55,000 each."

Meanwhile in the Flathead, " ... a significant employer could hire 200 workers tomorrow at salaries of $60,000 to $130,000, but there are no homes for them to move into."

Holding out hope for a major market correction/recession to shake things out, but perhaps this is the new normal. It's maddening.

https://flatheadbeacon.com/2022/03/2...th-in-montana/

[rodentraiser]

Been there, done that. I feel for you guys.

Ever read The Cowboys by William Dale Jennings? The Bozeman of today is light years away from the Bozeman in his book.

[Clark Fork Fantast]

Originally Posted by rodentraiser

Been there, done that. I feel for you guys.

Ever read The Cowboys by William Dale Jennings? The Bozeman of today is light years away from the Bozeman in his book.

"Spent the night in Bozeman! Town's as empty as a bone orchard." Don't know if that's just from the movie, or whether it is also in the book. Love them both. I went to Bozeman the first time back in the 70s just because of that book. And I had a beer at the Rocking R Cafe, watched The Outlaw Josey Wales in the main street movie theater, and stayed at the Range Hotel, long gone now. Those were the days...

[rodentraiser]

That's from the book. Jennings has a whole list of colorful phrases he explains in the book.

Interesting fact. When Jennings wrote the book, he put the cattle drive in summer, but what he said was that he found out later the boys actually went to school in the summer, but by then the book was already written and he couldn't change it.

If anybody gets a chance, read the book. You can hear John Wayne all through it.

I drove through Bozeman back in 2012 on my way from Minnesota to Washington state. I just had to see the town after reading The Cowboys.

[NDak15]

Originally Posted by Shuffler

Average home price is now $800k in BozeAngeles.

" ... median sales price of a single-family home is fast approaching $1 million. Fine, program manager for six of Bozeman’s urban renewal districts, said the median cost of a single family residence is $812,000, or $112,000 more than it was in October of 2021, and police officers, firefighters, construction workers and nurses can no longer afford to live in the city.

He also said businesses cannot attract and retain talent. Six years ago, a family of four earning $80,000, or 117 percent of the area median income, could afford a single family home in Bozeman, he said; in 2021, the same family would need to earn $162,000, or 219 percent of area median income, the equivalent of three salaries of $55,000 each."

Meanwhile in the Flathead, " ... a significant employer could hire 200 workers tomorrow at salaries of $60,000 to $130,000, but there are no homes for them to move into."

Holding out hope for a major market correction/recession to shake things out, but perhaps this is the new normal. It's maddening.

https://flatheadbeacon.com/2022/03/2...th-in-montana/

It's obscene what it costs to live in those parts of the state. I'm curious how many Montanans even go to MSU anymore. It costs over $20k a year for residents. Where do you even live? I was a student there many moons ago and it was horrifically expensive then. You also wonder how many people will still fall in love with it who are in those aforementioned career areas and find out what a costly mistake it was.

[OneDawg]

Originally Posted by Shuffler

Meanwhile in the Flathead, " ... a significant employer could hire 200 workers tomorrow at salaries of $60,000 to $130,000, but there are no homes for them to move into."

Hell it was that way in 2000

[SDbp]

Originally Posted by NDak15

It's obscene what it costs to live in those parts of the state. I'm curious how many Montanans even go to MSU anymore. It costs over $20k a year for residents. Where do you even live? I was a student there many moons ago and it was horrifically expensive then. You also wonder how many people will still fall in love with it who are in those aforementioned career areas and find out what a costly mistake it was.

Realistically, these days, 20k is not unusually expensive for one of the major state universities in many state. I looked at the MSU website, and they estimate the annual cost at 24k (excluding any aid) for in state. But cost of housing must be getting crazy if not on campus. I also saw an estimate of 22k for UM. Here in South Dakota, SDSU estimates the annual cost at 18k. But over the years, inflation on a college education has been pretty bad. At my small state U in KS 40 years ago, I pd about $300 a semester tuition and could make ends meet with a $165 a month scholarship and working 10 hrs a week at $4 an hr in the Chemistry dept.

[jetgraphics]

The flip side, is that the currency is devaluing so fast, that retail prices for "real stuff" are skyrocketing.

[Clark Fork Fantast]

Originally Posted by rodentraiser

That's from the book. Jennings has a whole list of colorful phrases he explains in the book.

Interesting fact. When Jennings wrote the book, he put the cattle drive in summer, but what he said was that he found out later the boys actually went to school in the summer, but by then the book was already written and he couldn't change it.

If anybody gets a chance, read the book. You can hear John Wayne all through it.

I drove through Bozeman back in 2012 on my way from Minnesota to Washington state. I just had to see the town after reading The Cowboys.

It's a great book--I haven't read it in many years, so I guess it's time to dust it off and get reacquainted.
Bozeman in the 1970s was amazing. My room at the Range Hotel cost $6, and I gave the manager a $10 bill. He handed me four silver dollars! Sometimes I wonder if I was actually in a time warp.

[Shuffler]

Relevant to skyrocketing house prices is the other side of the coin ... property taxes. Great article.

https://flatheadbeacon.com/2022/04/0...omes%EF%BF%BC/