Economy
CityLab Daily: Staying Afloat on an Island of Wealth
Also: Cutting New Yorkers’ commute times in half, and the urbanization of music festivals.
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A rising tide: For over a 100 years, Martha’s Vineyard has been a summer refuge for the wealthy, powerful, and famous. It’s also home to 17,000 year-round “islanders” who work to support much of what happens on the island—and the tension in this contrast makes it an extreme example of the affordable housing crisis sweeping the nation. While waterfront properties now hit the market for tens of millions of dollars, a substantial number of islanders become functionally homeless during the summer because they can’t afford the seasonal rental market.