“Yellowstone” has become one of the hottest shows to stream. Shot on location in the West, largely in Montana, the scripted television series tells the story of modern-day rancher John Dutton, played by Kevin Costner, and his family dynasty ta.
The plot is deliciously engaging, with backstabbing and family plots, high power plays and dramatic twists and turns, but it’s the cinematography that’s the main factor that makes the appeal. Vast vistas, snow-capped mountains and charming small towns are captured throughout the episodes.
However, ask native Montanans what they think of the show, and you’ll likely face grimaces and criticism.
Ginger Rice, a lifelong resident of the state, said she initially vowed not to watch the series after watching only one episode.
“It’s not real,” she said. “It doesn’t depict the life of Bozeman or Montana the way I thought it would.”
However, Rice, who admits that the show eventually hooked her, also recognizes that the show makes her home state so captivating for viewers: “Do you see what our state looks like? The mountains and the savannah and who could not love this?”
Production itself has a significant economic impact on the state, according to a research of the University of Montana. When season four was filmed on location last year, production cost the state $72 million, with businesses in the state receiving an additional $85 million in economic boost. Research funded, in part by Paramountown the program.
That study did not quantify the impact of all the free advertising Montana received from “Yellowstone”. But apparently the fictional John Dutton and his fictional sprawling ranch gave rich-city geeks an idea of what it’s like to be a real-life baron of the Wild West.
A still image from the Yellowstone television series on Paramount Networks set in Montana.
Licensed: Paramount Networks.
Robert Keith, founder of boutique investment firm The Beartooth Group, told CNBC. “They’re looking for some really amazing real estate.”
When the demand for land and houses increases, prices also increase.
Around Bozeman, the average cost of a single-family home has skyrocketed from less than $500,000 before the pandemic to nearly $750,000 according to the report. Gallatin Brokers Association. Surrounding Areas Missoula and Kalispell even more spectacular price increases. Rents are so high that even working professionals have trouble finding housing they can afford. And some landlords, seeking higher rents, are not renewing leases with tenants.
Big demand in Big Sky
Big Sky Country’s population boom has lasted for many years. Montana, eighth small state by population, there are now more than 1.1 million people. From 2010 to 2020, the state grew 9.6% according to the US Census Bureau.
Then came Covid and remote work. In 2021, Montana becomes one of the fastest-growing locations in the nation, according to thee United States Census Bureau.
“A lot of our clients during the pandemic have gone out and sought shelter in camps,” said Tim Murphy, a longtime Bozeman farm broker and associate at Hall & Hall. livestock, a safe place and no people around”.
Last year, Chris Kimbrell, who lives in Georgia, joined the mass migration to Montana, to work as a veterinarian in Bozeman. From his first visit when he was just nine years old, he says he was drawn to the state and continued to make return trips to fly fishing until college.
But he gave careful consideration to the rising cost of living.
Montana home prices skyrocket: Robert Keith, Founder of Beartooth Corporation, renovates damaged land and sells restored farms to conservation-minded buyers
Contessa Brewer | CNBC
“If it weren’t for a family member who let me live on his property, I really would have had to think a lot about moving out here,” Kimbrell said. “Rent and housing are becoming extremely expensive.” The support staff at his veterinary practice are paying the price of not having a home, he added.
Rice, a Montana resident, said her daughter and son-in-law recently received notice that their landlord would not be renewing their lease on the three-bedroom home they’ve rented for more than a decade. . It was a frantic scramble to even find a two-bedroom apartment for three times the rent they were paying, she said.
“My daughter said we would never be able to buy a house,” she said. “We tried to save it, but things just kept increasing.”
Some families, even those with full-time jobs, are turning to recreational facilities or tents. Local roads are now littered with campers, who can no longer afford to pay rent or own a home. Habitat for mankind Call it a housing crisis. “Montana has quickly become inaccessible to those who live and work here,” the nonprofit said.
Fly fishing and designer jeans
Longtime residents also criticize the cultural divide between newcomers and longtime Montanans. They scowl about newcomers to real estate but refuse to join and commit to their community.
“I used to like that you knew your neighbors. We still knew our neighbors, but we weren’t really friends with our neighbors,” Rice said.
She quietly complained that Bozeman was crammed with well-dressed “highfalutins” who made her feel uncomfortable around them. And she says the city center is almost unrecognizable.
“I don’t like how busy it is. I don’t like the traffic. And it’s too expensive,” she said.
Longtime residents told CNBC that changes were also evident in Missoula and Kalispell. They say that outsiders are always in a hurry and are too loud with their unrealistic demands. In her previous job at a dry cleaner, Rice said, a client insisted on removing paint splashes from designer jeans. “What are they drawing in those pants?” she wondered.
The “Yellowstone” effect reminds residents of another cultural conflict, which developed when Hollywood portrayed Montana in the movie “A River Runs Through It.” The film, directed by Robert Redford and starring rising movie star Brad Pitt, was shot on this location in 1991 and released in 1992. It won an Academy Award for Outstanding Cinematography. most colorful.
“At the time, fly fishing was in vogue, as there were a lot of people wanting to buy fly fishing properties in the area,” says Farmbroker Murphy.
As a result, the fly fishing industry grew 60% in both 1991 and 1992, according to Forbes.
He is seeing an uptick again, even as economic uncertainty looms, he said. “When the stock market shakes and there’s turmoil, that’s going to boost our market because the land market is pretty stable,” he said.
Many of the newcomers with ample pockets and entrepreneurial aspirations fueled Montana’s burgeoning economy. Governor Greg Gianforte’s office said in May the state’s economy grew 6.7% in 2021, the fastest pace in more than 40 years, making it the seventh fastest growing state economy in the nation.
Montana home prices soar: Robert Keith, Founder of Beartooth Corporation, renovates damaged land and sells restored farms to conservation-minded buyers
Contessa Brewer | CNBC
Beartooth Corporation is betting that investors not only want financial returns, but also legacy. The company specializes in renovating degraded land – such as an old mine, ranch or ranch – and then selling it.
Keith, the founder of Beartooth, showed CNBC a creek that has been restored to a winding waterway, perfect for trout. Many generations ago, it was tied into a ditch for agricultural use. But now fish draw birds. Ospreys build a nest and the parents are seen feeding their young.
That’s the type of property that appeals to Montana-conscious buyers, says Keith. They want to see deer, deer, bears and butterflies.
“I think we can all agree that there are not enough dollars for conservation,” he said. Wealthy, conservation-minded buyers often invest more in restoring the land after they own the property. He says Beartooth’s offering is unique: “By doing something good for the world, we’re making it more valuable financially and environmentally.”
The state also hopes to attract former residents back to the Big Sky state with a marketing campaign, “Let’s go home to Montana. “
“No matter how long you’ve been gone, now is the time to return home to rural Montana,” the campaign said. “Embrace the life you really want to live.”
But if you want to live there, bring your checkbook. Former residents will find their home in a much more expensive condition than when they left.
