Did somebody say symbiosis? At a time when Manhattan dwellers struggle with lackluster year-end bonuses and job losses, the Hamptons has suffered its own crisis: one of real estate, the East End playground's great arbiter.
A new Miller Samuel and Prudential Douglas Elliman report shows home sales off annually over 41 percent in the fourth quarter of 2008; the median sales price is down, too. And listing inventory's up! By over 11 percent! Few Hamptons homes are selling, in short, and, while these aren't hard and fast rules, one can only connect some of Manhattan's housing misery with that of the East End (the North Fork had a rough go of it in the fourth quarter as well). read more »