Aspen Community Vision

Printed From: http://www.aspencommunityvision.com/page_38

Economic White Paper

Welcome to the Aspen area Economic "White Paper"

As part of the update to the Aspen Area Community Plan, the City of Aspen recently released an Economic "white paper." Read the full report by clicking here.

The"white paper" details the ups and downs of the local economy since the 1970s - and documents the shift from retail and lodging to an economy dominated by real estate and construction.

Some facts about real estate found in the report include:

The cost of a typical aspen home is enough to buy 25 average homes in the U.S.;
The $6 million average home price in the Aspen area is a 15-time increase since the early 1980s;
California is the state where real estate prices spiked the highest in recent decades, but prices there increased only 5.6 times during the same period;
From 1980 to 2001, the stock market outpaced Aspen real estate appreciation.

You can read the full report by clicking here. You can also read the press release by clicking here.