Economist Says Aspen Real Estate on Right Track, AT

"“Any place you go in the world, people know of Aspen. You're special. You're different,” he said. In the end, this will benefit Aspen's ability to recapture home buyers, investors and visitors, he said. Right now, individuals are recovering, but they are sitting on their cash, he said. “But when they decide to spend, it's going to be good,” he said. “They are not going to be buying cars. They are going to go after real estate.”

ASPEN REAL ESTATE — When the U.S. economy is good, Aspen does “incredible.” So what happens when the U.S. economy is bad? “You all suck,” said Dr. Ted C. Jones, chief economist for Stewart Title Guaranty Co. “You are a function of what people feel because they are coming here to spend their money.” But the outlook for Aspen isn't all doom and gloom. “I see sprouts coming out of the ground that things are turning around,” Jones said at Wednesday's Aspen Board of Realtors luncheon. In fact, there are several signs that Aspen's economy is on the upswing. Among them: notable growth in the Pitkin County job market; an upward trend in home prices; and increases in single-family-home and condo sales for two years running.
By Jeanne McGovern, Jan. 27, 2012 AT

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