Ketchum, Idaho was the focus of Jim Cramer's Real Money column on the "Rich Rush Phenomenon." As the wealthy have moved to small towns across America, unprecedented challenges to local infrastructure have emerged, Cramer noted.
"The beautiful areas of the U.S. have to come to grips with the notion that hybrid work is here to stay and the less well off have to get their fair share if they are going to work in these often seasonal small towns.
I say the public policy implication revolves around police, fire and teachers, the ones with truly fixed incomes that will be driven out and won't get the raises they need. But Ketchum and other towns with available jobs? They are illusory. The solution is, as President Biden has whispered: Pay more. Just like in Williston, North Dakota. Or else, someone else will and make outstanding profits doing so," Cramer wrote.
Recap TheStreet Live: Everything Jim Cramer Is Watching 7/8/21