The first settlers came here in 1878 in pursuit of silver and named the town for the abun-­ dance of aspen trees in the area. They enjoyed prosperity until the silver market crashed in 1893. By World War I, most of the local mining operations had gone bust. Aspen was practically a ghost town for decades—until 1946, when developer Walter Paepcke founded the Aspen Skiing Company with the vision of a cerebral, arts-oriented community. In 1950, Aspen hosted the Alpine Skiing World Championship, and the rest is history. Today, Aspen is home to some of the most expensive real estate in the world and draws in the rich and famous with immaculate ski slopes, spectacular shopping and fine dining.