Rents in this North Dakota oil town are now higher than in NYC or San Francisco

[xchrom]

http://grist.org/news/rents-in-north-dakota-oil-town-now-higher-than-in-nyc-or-san-francisco/

?w=470&h=264
Bored in Williston? Just go shopping!

***SNIP

According to findings published Monday by ApartmentGuide.com, Williston is now the most expensive city in America in which to rent housing. It’s more expensive to rent there than in New York City, San Francisco, or Silicon Valley. Here’s more from the real-estate website’s blog:

A 700-square-foot, one-bedroom, one-bath apartment in Williston easily can cost more than $2,000 per month.

Looking for a little more space? A three-bedroom, three-bath apartment could cost as much as $4,500 per month. …

Many apartment buildings feature mudrooms in the front, where workers can remove their dirty shoes and overcoats before they enter their homes. The ratio of men to women in Williston is about 12 to 1.

Those oil workers cause more problems than soaring rents and pollution. As we reported last year, they’ve also lead to an increase in sexual assault, STDs, car crashes, and drug-related crimes.

[yeoman6987]

1. Progress

That is what happens when the city is a huge success. The people there make a lot of money even people who work at fast food restaurants. It is wonderful to see such success. However, as we have seen before the higher they go, the harder they fall. Once this success is done it will fall back to the way it used to be but the negatives aspects will stay that the success brought to the city.

[srican69]

2. A landlord who purchased property before this become a boomtown, must be really raking it in.

Imagine he purchased a property for 100,000 ( not unthinkable) now gets 3000 a month or 36,000/year ... thats a near risk free yield of 36% !!!!

[newfie11]

3. Just like the old oil boom towns nt

[sorefeet]

4. I live over by Billings and

it is slowly trickling this way. Causing rent to go up for the locals. Lots of people think the oil man is going to punch a well in their back yard and make them rich. GREED is all over this part of the country.

[reformist2]

5. In a capitalist society, money always ends up in the hands of the landowners - it's idiotic.