The bankers’ fall from grace could only be followed by serious perception declines in the Hamptons. That’s just fine with the locals. Thank god that new money contingent is forced to move on.
…For the time being, the economy has taken care of the McMansion developers. Houses sit unfinished and it’s distressing for those who have invested, and even worse for the locals whose livelihoods depend on them.
But maybe this downturn has a silver lining given the number of terrible houses that have been built.
The alliance between local governments and developers, where trinkets are tossed to the towns in exchange for the right to overbuild with impunity, has to be examined and challenged. It’s no longer an issue of what we want this place to be but rather an issue of “can it be?” So this downturn is a very good time for us to take stock and reflect and, hopefully, emerge once again as a changed and fabulous place.
Real Estate [27east] via Banker Gone Broke
too east, didn’t hampton
Hamptons? what a cesspool.
no body told the folks renting places east of the rock. damn, those people are pricing rentals like it was still 1999! wtf…
The Hamptons are so overrated.
Checkout Orchard Beach for some mamacitas.
http://flickr.com/photos/hizbrowneyez/756401367/
-Fo Shizzle
This would never happen in East Egg
Check out the property values in East Egg now and take a peak at West Egg while you are at it.
@4…wow!! I thought that was a Mirant company outing from 2000….
@4
Who are those gorgeous hunks of blubber?
i miss the hamptons.
THEY ruined the Hampton and THEY were on their way to ruining the North Fork too. Good riddance to bad rubbish. Twenty years ago you could have bought anything there really cheap and it was beautiful, now it is a sewer.
@10
STFU Lloyd
they should go back to growing potatoes. yes, those were the good old days. When residents didn’t ask “how much can I build?” but rather “how can we make the very best use of our lovely community?”
The story of the fall of the Hamptons makes me as sad as when Salma Hayek called me just to break up with me and leave me for some frog billionaire.
They are going to have to sell all their second and third homes. This will give the hamptons a chance and the farmers who are on the North Fork a breather that they very much need.
Drift Inn 4eva
Less Douche in The Hamptons can only be a good thing. This may actually turn out to be a very enjoyable year!
So that’s it. Kick em when their down.
UBS AG, Switzerland’s largest bank, reaped more than $380 million in “ill-gotten” profits by acting as an unregistered brokerage and investment adviser to U.S. clients, U.S. regulators said in a lawsuit.
Any potato farming jobs out there this year?
Unemployed Analyst
#18, are we going back to all those off shore accounts again?
I waxed Erin Burnett’s butthole last week. Has it grown back yet?
Definitely a good thing. Hampton’s became the playground of the gauche moneyed proles. Avec l’argent mais sans gout!
Could be worse… Dubai is about to start cutting down its hotels for firewood and reverting to mob rule…
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@2:
No shit. The first time I moved out to NY I was wondering what was with all the people going out there, so I drove out there one day and took a look around. Apart from some nice looking houses, the hamptons is a filth pit.
It’s actually depressing to think of how many people actually swelter in traffic for hours to go there and it’s the highlight of their week, LOL…
Irony here is that the Benson gallery was torn down to make way for the new HQ of… Farrell Builders who’ve put up so many of the houses over the past 5-6yrs.