3 ms·

Clearly people can afford the real estate there since it's selling, yet I agree with your point, confusingly.

• rossdavidh 3y ago
  I admit it is odd at first glance, but I can think of a few possible explanations: 1) they cannot actually afford it, and will find this out in a few years 2) they are being bought as investments by REIT's and such, not by real people 3) they are being bought by foreign money as a way of parking wealth in the US, because it is perceived as a safer place to have your money than the home country There could be other explanations, as well, but these are three that come to mind.
• seanmcdirmid 3y ago
  If 5 people can afford the real estate and 15 people cannot, it isn't that weird that 5 people are staying and 15 are leaving. That the price equilibrium is reached means that a lot of people can't afford those prices, which will result in a net loss of population until a population equilibrium is reached. And it isn't weird for very expensive but smaller places like Aspen to have already reached both of those equilibriums, so their population is relatively stable but they are still very expensive places to live.
  • beej71 3y ago
    So are the houses of the 15 just going empty, or are they selling?
    • seanmcdirmid 3y ago
      20 people arrived in town, 5 found housing that they could sustain, 15 did not. Unfortunately, since residents who are renting bid for the same housing as newcomers, they can get pushed out as well (5 residents with housing, 15 new comers, not all the stayers will be existing residents).