Not for very long. If you look at the Aspen market--particularly downtown--Aspen prices are the last to decline, they decline less than in other markets in downturns, and they recover first.
 
Why? Because Aspen is at the end of a long, narrow valley, bordered by some of the most beautiful mountain peaks, national forests, and wilderness areas in the world that will never be developed. Land for residential building is very limited, yet for reasons further described below, demand is high.  Baby boomers are expected to begin retiring in record number in the next few years, thus fueling additional demand.     
When real estate markets undergo cyclical downturns, Aspen usually follows later, with smaller swings and swifter recovery. It remains uncorrelated because owners who might wish to sell can wait for the price they want and because supply is always short in the face of demand. This demand continues to increase as the more fortunate make choices for alternative life-style locations and as local government officials become increasingly more aggressive in pursuing growth management and restricting new development. A building permit in downtown Aspen is as valuable as a block of gold.Aspen offers two lifestyles in one. Winters are, of course, renowned for four-mountain skiing, often voted the best ski resort in North America. It is also an active social scene, with great restaurants, and clubs that give the resort its reputation, and attract interesting people from all over the world. Aspen is quite different in summer, and some think even better: a picturesque destination to combine a hearty health regimen with social and an amazing world-class selection of cultural activities. As you settle in for the summer, you'll find yourself doing more hiking, biking, fishing and golfing. You'll see what the body can do with gradual increases in physical activity, 300 days of sunshine, and a dry but mild climate that offers virtually no humidity and cool, pleasant evenings.
 
Some buyers simply come to Aspen for the culture and quiet, the opportunity to live a high-quality, low-key life in one of the most beautiful places on earth. Whether you are in Aspen for the outdoor activities or the restorative peace of mind, you can custom-design your day-to-day routine with the extensive cultural calendar highlighting classical and jazz music festivals, art, film and dance. For the more cerebral, a mind-expanding agenda at the Aspen Institute will bring you up close and personal with some of the most provocative thinkers of our time. And, with a home in Aspen, you always have the option to just relax and do nothing, soak up the sun, breathe the fresh, mountain air and walk about town. In Aspen, you can change your life or make your current life infinitely better. It's your life, you choose the style.Fox Crossing Aspen is the very first cohesive neighborhood in downtown Aspen, with 20 homes surrounding a small park and boasting breathtaking mountain views. The first nine homes sold out quickly and are now built with families moved in.  We are currently building three more, the first of which is ready for the winter 2008 season--only one.  The next will be ready for the summer season, so supply is incredibly tight.   
For your investment strategy, a Fox Crossing home offers a new-construction, single family, high-end home in downtown Aspen--pricing has always been fair--never pushing the envelope.
For your lifestyle goals, Fox Crossing includes a prime location, magnificent views, a Charles Cunniffe-designed custom home with exceptional finishes, a proximity to in-town and on-mountain activities and incomparable year-round amenities like valet parking at The Little Nell hotel. Fox Crossing also offers a health membership at either the Maroon Creek Club or the Aspen Club. Between the two, there is no better place for exercise and health management in Aspen. With our experienced concierge services, when you own a Fox Crossing home, you are connected to town and perfectly situated for getting all that Aspen has to offer. We've arranged it all.