Word: resorting
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Dates: during 2000-2009
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First of all, home prices won't weaken forever, and they almost certainly will be much higher in 10 years. Waterfront and resort properties and those with spectacular views--just the features you dream of for a retirement home--can be expected to rise the fastest. Yet for even prime properties in today's market, competing bids are rare, and sellers are eager to deal. You have bargaining power, and you have time to research your purchase. Mortgage rates remain low for those with good credit...
...globetrotters who define this niche, a chain hotel, no matter how ritzy, just won't do. "The resort sector was a little tired and cookie cutter," says America Online founder and former chairman Steve Case. His own frustration as a traveler led him in August to invest in Cacique, an $800 million, eco-friendly resort planned for Costa Rica's northwest coast. To stand out in the crowded luxury field, a boast about sheets with a thread count of 1,200 isn't enough. So Case and other hotel developers are trying to create a new model for luxury. Unlike...
Indeed, the Ginn Co., a Florida-based developer, wants to build a 5,300-acre resort with a ski hill, golf course and 1,700 units of housing on nearby Battle Mountain. Of course, local opinion is split. Some say such a big-box project will generate jobs and tax revenue. Opponents argue that it will ruin the town's Grateful Dead--meets--Hooterville character, turning it into something more like Sun Valley or Aspen...
...single-family home for the $500,000 they'd pay for a condo at the Prada end of the valley, where Range Rovers and $3 million villas outnumber cattle and sheep. Growth, Dunn wistfully notes, is inevitable. "But," she adds, "I hope we can grow gracefully. There are resort towns that were in the position Minturn is in now. It makes sense to learn from their successes as well as their mistakes. I'd like to see an effort to protect our small-town, family-oriented atmosphere...
...Despite the crowds of industry, press and movie lovers who descend on it, Toronto manages to remain a working city during the festival. This is in stark contrast to the resort towns the other major festivals swallow whole. When festival goers bundle up to make their way down Main Street in Park City, Utah, during Sundance in January, they're not just protecting against the cold, but also against the teeming horde in search of a hot cup of coffee in one of Park City's crowded cafés. Toronto, with its easy public transportation, crisp weather and metropolis...