Hala Ranch Sale Hindered by Housing Slowdown

Well it looks like the housing market slowdown is even hurting Prince Bandar in his efforts to sell his Hala Ranch proeprty in Aspen Colorado. According to BBC, Prince Bandar is having a difficult time selling his $135 million home.

Now in the BBC article they say that the housing slowdown is causing problems for the Prince and it has been on the market for quite some time. Is it really an issue with the housing market or could it be that there are not a whole bunch of people who can afford to plunk down $135 million for a vacation home? Maybe I am wrong but it would seem to me that a home in that price range would not really be affected by the trends in real estate? I have been known to be wrong every once in a while so who knows.

Maybe it is time for the Prince to lower his expectation and move in line with the current market trends. Maybe if he lowers the price someone who actually has an interest in the real estate market trends can make an offer. Somehow I doubt that this will happen and he will eventually sell it to one of the very few people around the world that can actually buy it.