"Provincetown, like many summer havens, is caught in a vicious cycle of economic and demographic change, with a widening divide between the haves and the have-nots that is threatening its future. The long-running invasion by second-home owners and investors, who now own 71 percent of the homes here, has jacked up the price of real estate. One 418-square-foot home, albeit with 30 feet of mesmerizing waterfront, is going for nearly $1.6 million.
As a result — with housing and year-round jobs increasingly scarce — Provincetown is hollowing out. The winter population dropped 14 percent between 2000 and 2010. Families have left or have avoided settling here in the first place. The high school closed a few years ago. And the dwindling population is graying. The median age of 54.3 is far above the national median of 37.4. And Provincetown is not even the oldest town on the Cape; that distinction belongs to nearby Wellfleet, where the median age is 62.2."
http://www.nytimes.com/2015/12/21/us/welcome-to-provincetown-winter-population-dwindling.html?rref=collection%2Fsectioncollection%2Fus&action=click&contentCollection=us®ion=rank&module=package&version=highlights&contentPlacement=2&pgtype=sectionfront
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