Ski Resort Real Estate Markets: Why Not to Invest
This paper examines the behavior of ski resort property in a major New England market over the last 25 years. A property price series is constructed for the Loon Mountain resort, which is believed to be quite typical of New England Ski areas. This series reveals that nominal prices are no higher today than they were in 1980, and consequently real prices have eroded by close to 40%. The price series also exhibits considerable variation across time.