ASPEN — The Roaring Fork Valley has traditionally bounced back strong from tough economic times, but this recession is so severe that Aspen might emerge as a different resort, according to experts on demographics and resort economies…Jim Westkott, a senior demographer with the Colorado state government, and Ford Frick, managing director of BBC Research and Consulting in Denver, said they doubt Aspen and Snowmass Village can just ride out the recession and pick up with business as usual when it eases. Most recessions hit at the base of the population and sometimes trickle up to the wealthy. This recession struck the rich harder, quicker. Wealthy travelers who visit or live part-time at high-end resorts like Aspen were at “ground zero” of the recession, Frick said. As a result, he sees the real estate market eroding further.
By Scott Condon, July 15, 2009 Aspen Times
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