by Michael Snyder
The Economic Collapse Blog
Why have thousands upon thousands of very wealthy people suddenly felt an overwhelming urge to buy a home in Montana? At this moment, Montana is one of the hottest real estate markets in the entire country. When a desirable house is put on the market, it can often spark a wild bidding war. Of course the vast majority of the potential buyers involved in these bidding wars do not actually have any roots in Montana at all. Vast hordes of wealthy individuals from Los Angeles, San Francisco, New York and other major cities are flooding into the state, and there is only a limited amount of housing to accommodate them. As a result, home prices are being pushed to absolutely absurd levels.
In the Flathead Valley, home builders have been working incredibly hard to construct houses for the new arrivals. The following comes from a New York Post article entitled “Montana, the sold-out state New Yorkers can’t get enough of”…