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Real Estate Prices Force Realtors To Bolt

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Sep 22, 2005 11:35 am US/Pacific

Real Estate Prices Force Realtors To Bolt

ASPEN, Colo. (AP) ―

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Sky high real estate prices in this resort city in the mountains have driven yet another business out of town: The Aspen Board of Realtors.

The board was renting an office at the Aspen airport because of the cost of real estate in the city, where even a small house can cost $1 million.

Now, the board has purchased a spacious office in Basalt, 10 miles from Aspen, said Brynne Kristan, executive vice president of the board.

Kristan said the board had hoped to own its own office in Aspen: "We thought we'd be real estate owners ourselves," Kristan said.

Scores of businesses have moved out of town in the past decade because of the high cost of real estate and commercial space.