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Also applies to the small mountain towns of the American West. Having all that billionaire money buying ranches does inject a small bump into the local construc
by vwcx 4y ago
Also applies to the small mountain towns of the American West. Having all that billionaire money buying ranches does inject a small bump into the local construction/food/services economy at the cost of affordability for the workers themselves. Locals eventually get priced out.
- notch656a 4y agoI think there is an equalization effect there. Billionaire buys property on rural ranch instead of in the city, that leaves more room for people (possibly even people fleeing ranch life) to better afford the city billionaire could have bought property in.