Friday, April 23, 2010

Hamptons Homes: Not Cheap Anymore. Boo!

According to Business Week, the average price of homes in the Hamptons is on the rise. After an agonizing half-year hiatus in which opportunistic Wall Street and Hollywood types (See: vultures) had to forego the third home, they're now smelling blood in the water, which has increased sales on the east end to the biggest annual jump in seven years.

Jonathan Miller smells bullshit: "You had a lot more high-end properties in the mix and that skewed the indicators. I’d still characterize the housing prices in general as stable."

What does seem apparent is that buyers and sellers are engaging in a classic poker game staring contest. The sellers know what they're holding. The buyers know the sellers are shitting themselves to sell. They cancel each other out and meet half-way. Must have been tough, that long, hot summer of 09, but congrats everyone! You made it through!

In other news: Mastic Beach is still poor.

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