You can do pretty well here as a tradesperson. Plumbers and electricians have been turning down jobs since April because they're so busy and so few young people want those jobs. It's not easy work but it pays well for something that only requires an apprenticeship. But outside of that, yeah, it sucks.
And your point on housing absolutely stands, it's awful with a near 0% vacancy rate. And now people are buying houses here above the asking price sight unseen from out of state. This also breeds a lot of moronic nativist sentiment.
I've been in Burlington on and off since 1990. It's a fantastic place to live. Lake Champlain is an absolute gem as well.