Distinctly Montana Magazine

S P E C I A L S E C T I O N • S U M M E R 2 0 2 0 53 The first "Journey to the West" had its beginnings when Bozeman was settled by homesteaders and became the epicenter of the gold rush, along with nearby Virginia City and surrounding goldfields. The fertile Gallatin Valley produced many different types of foods and vegetables, and it became the garden community that provid- ed produce for the thousands of people seeking fame and fortune searching for gold. As Bozeman began to prosper, several sectors in the economy dominated. Agriculture was number one, followed by education, health, and business, all of which resulted in the founding of Montana State University and Deaconess Hospital. The communi- ty grew at a slow, steady pace for the next century. As time progressed, tourism became incredibly popular in Boz- eman. By the late 1980s, the city experienced clusters of high tech development in photonics, biomedical, and computer technology— thanks in large part to research at Montana State University and by local entrepreneurs. This attracted yet another new wave of business- es and employees, namely those who could use their science and computer skills and live in Montana instead of Silicon Valley. In the early 90s, Bozeman changed once again following the release of a movie based on a Norman McClean's book A Rivers Runs Through It The 1992 blockbuster created significant excitement for the beauty, splendor, and Montana's recreational opportunities. Anyone could visualize themselves fishing on that large rock in the Gallatin River, enjoying the solitude and peace that came from living in a place with low density and beautiful recreation. So began the "Journey for Solitude." Montana, especially Western Montana, ex- perienced exponential growth. Newcomers sought a change of pace and place and yearned for the solitude represented by that iconic motion picture. Bozeman experienced a very stable economy in the early 2000s and was a logical place for relocation after the events of 9/11. What became evident during that time was that events had shaken the confidence of the American. Those who could live outside of high- risk areas sought a protective and safe environment for working and raising families. I called this relocation a "Retreat to Safety," and the growth that occurred in Southwestern Montana between 2001 and 2006 was unprecedented. This growth continued until the stock market crash, national recession, and bank failures that began in September 2008. Bozeman had been growing at a rapid pace, with many developments and construction projects in progress. Some of these projects were highly leveraged, and as markets worsened, the community faced many foreclosures and bankruptcies. The recession caused many people to realize that if they were unemployed and starting over to rebuild their portfolios, they might as well live where they wanted. The flight capac- ity at Bozeman-Yellowstone International Airport expedited the ease with which someone could live and work here part-time or full time. This timeframe also produced a new wave of in-migration. This growth was driven by the belief that Montana real estate was a safe, secure investment and a great place to live, retire, or vacation. Boz- eman, Big Sky and Whitefish experienced a sizeable second home/ vacation home movement. Many of those with the financial means sought legacy properties, intending to keep them in the family for generations to come. Montana Real Estate Trends L E S S D E N S E M A K E S E N S E ! W HAT MAKES MONTANA SO COMPELLING TO AN OUTSIDER? Where to start? Wide-open spaces, blue-ribbon river, stream and lake fishing, world-class skiing, and ice climbing—in fact, world-class recreation during all four seasons. Plus, there's clean air, small-town friendliness, and a sense of "home" that many visitors say they've never experienced in other states. by ROBYN L. ERLENBUSH

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