Aspen Real Estate No Longer a Billionaire’s Market, AT

Multi-million dollar home sales slump in Aspen market. Luxury homes have long been a trademark of the Aspen real estate market, not only for their opulence and size, but for the princely sums paid for those residences. The homes, which can command well in excess of $10 million, are featured on television shows and in magazines as testaments to wealth.They are, in short, emblematic of the rich and famous. But in an economic environment that has stripped back the wherewithal of people across the globe, the desire to buy such homes seems to have waned.“Flashing wealth is just not cool,” said Randy Gold of Aspen Appraisal Group at a recent industry luncheon on billionaire buyers who are currently not shopping the market.
Wyatt Haupt Jr., Dec 23, 2008, The Aspen Times

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