All the mom-and-pop local ski areas gave out to the big corporate chains. The analogy holds that far.
Even more ironically, the big ski chains had access to cheap capital (they were trading on the stock exchange) and they converted their money into building re-sellable ski slope-side condos and vacation homes. Basically every ski area had undeveloped real estate which they built out.
If you looked at the security filings, the ski area business was running at break-even. After all the staff costs, snowmaking, operating costs etc the revenue they take in for the whole entire countru generated no profit whatsoever.
They basically “made money” on selling condos, and they literally built every condo they possibly had the potential to ever build and ran out of inventory. That was a one time cash-out move that cannot be repeated. If the ski areas start to fail it’ll be a huge rug-pull on all these small time investors. There are already towns where the ski area closed and hotels and resorts just got shuttered and fell into obsolescence.
You can almost see the ruins of the future for farming in this story. Every farmhouse , rural community etc is on the chopping block once this shifts into high gear. Like every farm community is a bunch of small time investors who are holding the bag in the end. They all have mortgages, loans on equipment and have poured everything into physical assets that have little or no value in a different future that’s coming at us fast.
Every one of these farmers can turn and look back generations and see proof farming is possible, and then you turn and face the future and its a different outlook. Every bad growing season is another shockwave.
All the mom-and-pop local ski areas gave out to the big corporate chains. The analogy holds that far.
Even more ironically, the big ski chains had access to cheap capital (they were trading on the stock exchange) and they converted their money into building re-sellable ski slope-side condos and vacation homes. Basically every ski area had undeveloped real estate which they built out.
If you looked at the security filings, the ski area business was running at break-even. After all the staff costs, snowmaking, operating costs etc the revenue they take in for the whole entire countru generated no profit whatsoever.
They basically “made money” on selling condos, and they literally built every condo they possibly had the potential to ever build and ran out of inventory. That was a one time cash-out move that cannot be repeated. If the ski areas start to fail it’ll be a huge rug-pull on all these small time investors. There are already towns where the ski area closed and hotels and resorts just got shuttered and fell into obsolescence.
You can almost see the ruins of the future for farming in this story. Every farmhouse , rural community etc is on the chopping block once this shifts into high gear. Like every farm community is a bunch of small time investors who are holding the bag in the end. They all have mortgages, loans on equipment and have poured everything into physical assets that have little or no value in a different future that’s coming at us fast.
Every one of these farmers can turn and look back generations and see proof farming is possible, and then you turn and face the future and its a different outlook. Every bad growing season is another shockwave.