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Ski towns are so expensive that workers struggle to afford local housing and stay in their jobs. Vail, Colorado has spent $17 million paying homeowners to rent to local workers, according to the Wall Street Journal. The typical home value in Breckenridge was $1.1 million in October, while in Vail, 40 miles west, it was $1.6 million, according to Zillow. He told Business Insider earlier this year that the worker exodus from Vail has forced his business to stop offering lunch some days. Advertisement"Teachers, like myself, want to stay here in the community, but doing so requires the stability that homeownership can offer," Weibel told Business Insider.
Persons: , Callie Kuchan, Business Insider's Jordan Pandy, Kuchan, Pandy, Vail, George Ruther, Ruther, he's, Paul Anders, Anders, Allison Weibel, Weibel Organizations: Wall Street, Service, Business, Street Journal, US Department of Housing, Urban, Policy Development, Research, Vail Daily, Vail Locations: Vail , Colorado, Breckenridge , Colorado, Illinois, Chicago, Breckenridge, Vail, Aspen, , Montana
At first, the two towns seem to have little in common: Vail , Colo., a ski-resort community two hours west of Denver, is bisected by Interstate 70, while Nantucket, Mass., an island off Cape Cod, is reachable only by boat or plane. But Vail, at an average elevation of 8,150 feet, is surrounded by the White River National Forest. “We might as well be an island,” says George Ruther, the town’s housing director, who is charged with finding places for middle-class workers—including the town’s more than 300 employees—to live. “If that wasn’t national forest, it would all be built on,” Ruther says, pointing to the carpet of trees flanking I-70. “Our challenge with housing,” he says, “has always been the scarcity of land.”
Persons: Vail, , George Ruther, ” Ruther, Locations: Vail, Colo, Denver, Nantucket, Cape Cod
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