A Hamptons post-mortem
July 15, 2009 12:00PM By Barbara Thau
Corcoran rented this five bedroom Southampton house early last month
From the July issue: While it is clearly too early to do a full autopsy on the Hamptons
rental market, brokers say this season will likely go down as one of
the toughest — and strangest — in recent memory. Though beachgoers just started making their way out to the
Hamptons in force last month, it's already clear that the Great
Recession has led to double-digit price declines in the Hamptons rental
market, compared to last year. According to Dottie Herman, the CEO of Prudential Douglas Elliman, "Everyone wants a discount." Jonathan Miller, the president of Miller Samuel, estimates that rental prices are off 20 percent this season.
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Comments
Anonymous
"Everyone wants a discount." HELLO? Properties out there aren't overpriced by thousands of dollars, they're often overpriced by hundreds of thousands- and MILLIONS. What a bunch of dopes out there, really. That they're surprised says it all.
Comment #1 Posted By: Anonymous 07/15/09
Anonymous
Haircuts for everyone who bought in the Hamptons between 2002-2008.
Comment #2 Posted By: Anonymous 07/15/09