21 July 2008

Resort Real Estate Sales Collapse

Somehow, I can bring myself to feel much concern for the fact that sales of grossly overpriced real estate in Colorado's resort communities are down by double digit percentages, about 50% in Aspen, the most expensive of them all. Perhaps this is because, while sales are down, prices are holding steady (actually increasing in Aspen).

Outside resort communities, Western Slope real estate prices are surging, as mining activity ramps up in the face of surging oil, gas and metal prices. But, even flush oil miners can't afford to live in Vail or Aspen (something long out of the price range of people who actually work there).

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