Political Quotes

On the recordMay 7, 2008
Well, my friend, I think we are talking about a different section of the economy. In fact, economic analysis of the functioning economy shows that there has been extraordinary wage growth of the wealthiest 1 percent, top 10 percent, consumptive patterns have continued unabated at the peak earning levels in our economy. And it is those people that are the customers for this land. This isn't your average Joe deciding, hey, Ma, let's move to Montana and buy a little forest land. No. There's no jobs there other than former timber industry jobs. The economy is in transition there. These are wealthy people that want to have essentially recreational property in areas we can't imagine. One of the individuals referenced in that article has invested about $125 million in Montana. It talks about his not liking what a logging company was doing. They began logging too much of the view in front of his yard. So he bought the land. He bought all the mountain that they were mining on. That's the kind of guy that we are talking about.
Said by
Earl Pomeroy
North Dakota

Editor's note · Context

Discussing economic disparities and the market for recreational property.

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