Montana Development

—- NPR's John Biewen reports on real estate development in the Yellowstone Valley near Livingston, Montana, where large ranches are subdivided and sold off to wealthy buyers, who use them as vacation retreats. The result is a huge increase in property values and an influx of movie stars and other rich people. Some long-time residents are profiting handsomely. Others resent the change and are trying to slow down the trend by imposing legal restrictions on real estate transactions. They want to limit the minimum size of land parcels that can be sold.

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