From left: a home in Woodstock, N.Y., Bermuda and an Aspen, Colo. condominium
From the February issue: With the mercury low and snow continually hammering the city, escaping the five boroughs on weekends has become a must for many New Yorkers. But they may be taking cold comfort in their getaways, since their second homes aren’t worth as much as they used to be — sometimes by a long shot. From the Rockies to Central America, home values in destinations popular among New Yorkers are off by as much as 30 percent, with little price recovery seen in 2010, according to an analysis of sales data. A slew of real estate offices that lined main drags in ski-friendly towns in Vermont are shuttered. Buyers in Bermuda seem to circle endlessly without purchasing, which keeps inventory high and depresses prices, according to real estate analysts. [more]
