wall street bonus down 30-45%

morgan stanly with 60 persent deferred bonus. there will not be a bump in real estate this year...housing slump to remain for next 3 years. a friend in retail said so far no bump.......

down down down it goes

I have serious doubts about us seeing any serious change in prices in the luxury market out in the hamptons. No matter what the economic climate is when were talking about an elite market like the hamptons there are still plenty of people with plenty of money to spend; and spend they are...look at the amount of transactions over 5MM$ that have closed in bridgehampton/sagaponack in the past 6 months alone...and i only speculate more to come as we go into the spring and summer months.

The fact is the market out east is sheltered and controlled by the brokers and a big broker who i have been working with out east has told me that unfortunately for buyers contrary to what they should be doing sellers have gotten wind of buyers in the market and have started to dig their heels into the ground when it comes to negotiating on prices. Those days of 20% off asking have long passed with 2009.

I hope something changes so i can jump in but it doesn't look like prices out east are going to fall anymore than they already have which doesn't say much at all. Guess i'll have to go back to looking at 5 million dollar knockdowns south of the highway

The Hamptons is not Kansas. People will ALWAYS have money to buy out East. Good luck in thinking this trend will change anytime soon. If you did not buy in 2009 you missed the boat. Even Obama has realized that the rich (or wealthy) must flourish for this country to flourish. Prices out East did bottom in a panic, but good luck seeing that again for another 20 years. By 2012 mortgage interest rates will be south of 6.5% and people will be kicking themselves about the deals they missed.

And please do not forget that any would be seller can rent for the summer to pay for a year of holding costs.

it's one of the best real estate investments you can make due to the options.

weird, hamptons just dropped another 20%... looks like that was a sinking ship that folks "missed".

20% in Hampton Virginia, keep dreaming all you Wannabes. Join the fun once you can afford it.

I will admit...I tried to low ball a couple properties and had no success. I found one "good deal" in my mind. I tried to buy it for 1.6 (it was listed at 1.7) but 4 hours before me someone came in at the normal list price for all cash!! I tried to buy it for 75k more but they passed for the all cash bid.

I don't think wall street making good money is done...and therefore I totally agree that there will continue to be buyers in the hamptons. The only alternative is buying in the jersey shore which is awful.

If you don't buy in the next 2 years I think there is a decent shot people that don't make a couple million a year are priced out and the Hamps again becomes unattainable for people that make less than 1.5mm a year