Hamptons on sale

Yes, the Hamptons are second homes and we consider Greenwich a primary residence town but (a) the people who used to buy in the Hamptons are similar or identical to Greenwich buyers and (b) Greenwich’s high end market has long been largely a weekenders market. So news that real estate’s down 40% out there in the potato fields is perhaps a harbinger of things to come here.

2 Comments

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2 responses to “Hamptons on sale

  1. anonymous

    No one “needs” >>$5MM wkend houses….in Hamptons or PalmBeach or Aspen or Malibu or Montecito, etc

    Stays at suites at FourSeasons-caliber resorts of choice are prob cheaper than ever

    Besides, flying commercial amidst the obese, sweaty masses to these resort towns sucks…don’t most houses in Greenwich have modern HVAC and pools?

    • christopherfountain

      That’s true anonymous, but a cop directing traffic at a broker open house told me a year ago that about 1/2 the Back Country houses are empty during the week. I doubt that was a scientific survey, but it did open my eyes to how many people use Greenwich as a week end get away. And as you point out, no one really “needs” a $5mm weekend house. So if they’re realizing that in the Hamptons, I worry that they’ll reach the same conclusion about Greenwich. Darn!