DENVER - In the resort town of Vail, Colo., there are two classes of people: the affluent who come there to ski and those who serve them.

With so many wealthy people buying property there, the cost of real estate has escalated to the point where even the middle class can't afford to live in Vail, let alone the ski bums, waiters, cooks, and counterpersons. Rents are increasing by a steady 10% to 13% per year, making Vail Valley rents similar those in New York City.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.