Where is real estate climbing fastest in the U.S.? Try Aspen and neighboring Snowmass, Colo., the ski-and-sun resort area whose population of 17,000 swells to 35,000 when the snow is on the trails from Thanksgiving through mid-April. Six years ago, studio apartments in the Lichenhearth condominium complex sold for $30,000; today, these 675-sq.-ft. jewel boxes go for $175,000. Last year Jay Kuhne, a California real estate man, parted with $275,000 for his three-bedroom town house condo on the Aspen Club grounds; this year the unit is selling for $675,000. Prices are rising by the month. A studio with sleeping alcove...
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