Hamptons Mega-Mansion Market Goes Cold As Folks Search For ‘Modest’ $5-10mm Homes Instead

The wealthy bankers and hedgies of Manhattan celebrated a few weeks back when Douglas Elliman released their 2Q 2017 Hamptons real estate guide showing that the market for excessively priced weekend home was on the rebound. Both pricing and volume of home sales were up ‘bigly’ year-over-year at 12.7% and 22.8%, respectively.
All of which is great news because we had been hearing all sorts of horror stories about people potentially having to give up one of their lambo’s if the market got much worse…

This post was published at Zero Hedge on Aug 11, 2017.