Living the dream has never been easy in the West’s most beloved adventure hamlets, where homes are a fortune and good jobs are few. But the rise of online short-term rentals may be the tipping point that causes idyllic outposts like Crested Butte, Colorado, to lose their middle class altogether—and with it, their soul.

Outside: Did Airbnb Kill the Mountain Town?

 

This is a big problem for major cities like San Francisco also.  It’s having a real impact on the long term rental market, which is already problematic.  This is a good example of how the Internet brings efficiency to markets, but that doesn’t necessarily make things better and often can make things worse.

“Silicon Valley’s latest tech boom, combined with a housing shortage, has caused rents to soar over the last five years. The city’s rents, by one measure, are now the highest in the world.

The prohibitive costs have displaced teachers, city workers, firefighters and other members of the middle class, not to mention low-income residents.

Now techies, many of whom are among the highest 1% of earners, are complaining that they, too, are being priced out.”

Source: Scraping by on six figures? Tech workers feel poor in Silicon Valleys wealth bubble | The Guardian

“It had all started with 9/11. I was in Toronto, and my father had just arrived from Tehran for a visit. We were having breakfast when the second plane hit the World Trade Center. I was puzzled and confused and, looking for insights and explanations, I came across blogs.

The rich, diverse, free web that I loved — and spent years in an Iranian jail for — is dying.
Why is nobody stopping it?”

The Web We Have To Save

Ultra-rich man’s letter: “To My Fellow Filthy Rich Americans: The Pitchforks Are Coming”.

Good read.  Here’s a quote I like… “We rich people have been falsely persuaded by our schooling and the affirmation of society, and have convinced ourselves, that we are the main job creators. It’s simply not true. There can never be enough super-rich Americans to power a great economy. I earn about 1,000 times the median American annually, but I don’t buy thousands of times more stuff. My family purchased three cars over the past few years, not 3,000. I buy a few pairs of pants and a few shirts a year, just like most American men. I bought two pairs of the fancy wool pants I am wearing as I write, what my partner Mike calls my “manager pants.” I guess I could have bought 1,000 pairs. But why would I? Instead, I sock my extra money away in savings, where it doesn’t do the country much good.”