I lived in Breckenridge, Colorado, a rather fancy ski resort town a couple years back. At the time a large portion of service industry workers could not afford any housing at all within 45 minutes and slept in their cars in alleys near their work.

Same as this, the issue is people moving in from areas with higher housing costs who can afford higher prices, while they depend on workers whose wages aren’t nearly enough to live nearby even if doubled.

This is not a new phenomenon or a much different than what has been going on in cities such as Denver. It will be interesting to see whether the pandemic changes continue to have an effect on pricing near the central business district. Remote work etc is likely to make resort towns even worse in this regard.