The eye-catching reason millionaires are being driven out of stunning Wyoming town where local workers on six-figure salaries can only afford to live on other side of mountain
Millionaires once accused of ruining a gorgeous town in Wyoming now complain they are being driven out of the area by billionaires.
Jackson Hole has long been a popular vacation spot for celebrities including Ryan Gosling, Eva Mendes and Matthew McConaughey.
An influx of wealthy people sent house prices sky-rocketing and forced ordinary workers to live on the other side of the mountain on the Idaho-Wyoming border.
But these same millionaires are being priced out by billionaires looking to buy multiple vacation homes and house prices have risen even further.
The median income in Teton County is $108,000 a year while the average listing price for a single-family home sits at more than $7million.
Jackson Hole in Wyoming is now so expensive that its millionaire residents are being priced out by billionaires. And it's even worse news for local workers on six-figure salaries
Millionaires once accused of ruining a gorgeous town in Wyoming now complain they are being driven out of the area by billionaires
An influx of wealthy people sent house prices sky-rocketing and forced ordinary workers to live on the other side of the mountain on the Idaho-Wyoming border
'The billionaires are buying out the millionaires,' construction worker John Smaellie told CBS News.
'You're making a great wage anywhere else in the country. But here? You're poverty-stricken.'
He is only able to live on the other side of the mountains near Driggs in Idaho having been priced out of Jackson.
'A family like mine can't live here, not even an inkling of a chance,' Smaellie said.
It takes him an hour to drive to downtown Jackson and the inequality in the area is easily visible on his commute.
Town council member Jessica Sell Chambers said: 'This is beyond gentrification. This is super gentrification.
'It's unsustainable, too. Who's gonna run the place? Who's gonna work and be the backbone of all these services?'
She is running to be mayor and says she would like to see more affordable options for multi-family housing.
Jackson Hole has long been a popular vacation spot for celebrities including Ryan Gosling , Eva Mendes and Matthew McConaughey
But these same millionaires are being priced out by billionaires looking to buy multiple vacation homes and house prices have risen even further
The median income in Teton County is $108,000 a year while the average listing price for a single-family home sits at more than $7million
Construction Worker John Smaellie is only able to live on the other side of the mountains near Driggs (pictured) in Idaho having been priced out of Jackson
Pete and Sarah Wilson, who live in Driggs with their daughter Harper, feel as if they have been priced out of their hometown Jackson
Pete and Sarah Wilson, who live in Driggs with their daughter Harper, feel as if they have been priced out of their hometown Jackson.
He is a first responder in Jackson and said: 'I'm the help, even though I'm a firefighter-paramedic.
'Once we're done doing the job, we're expected to kick rocks, get lost.
While Sarah added: 'If you're looking at the American Dream or whatever — like, if you work hard enough you can have what you want — but you can't.'
Jackson Hole is famous for its beautiful mountains, wildlife and abundant nature views which extend in every direction.
It is a popular spot for celebrities because of its privacy, peacefulness, luxury resorts and the various activities on offer.
Gosling and his wife Mendes enjoyed a vacation in Jackson Hole with their daughters last August following the release of the hit Barbie movie he starred in.
‘Of all the places he could go to wind down after his whole Barbie tour, he picked Jackson. It’s so peaceful here,’ a source told People.
‘People like it because you can fly under the radar. It’s such a small community.’
Another added that the family stayed at the Caldera House ‘which is where a lot of celebrities stay in the village — it’s a members’ club and you can get a place there as well.’
The luxury hotel is located next to Grand Teton National Park and has welcomed celebrities including Mandy Moore, Gigi Hadid and the Kardashians.
Oil and gas CEO John Truett moved to Teton County and said it allows him to become a ‘normal person’.
‘I don’t tell people that I live in a gated community. They accept me as a local,’ he told author Justin Farrell.
DailyMail.com found two three-bedroom homes in Jackson listed for $3.8million and $3.3million
Sell Chambers' home in Jackson has increased in value but she thinks the property taxes may drive her family out of the town.
'We don't want to go anywhere. The money's not important to us. It's the community,' she said.
DailyMail.com found two three-bedroom homes in Jackson listed for $3.8million and $3.3million.
The divide between the wealthy in Jackson and ordinary workers in Driggs was physically visible last month when a part of the mountain pass collapsed due to a landslide.
Around 80 feet of the road was destroyed and could not be used for three weeks which separated the towns.
