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Zerohedge about the Hamptons rental market -
Posted on 6/6/22 at 7:46 am
Posted on 6/6/22 at 7:46 am
I have noticed an odd trend, that economic trends which many THINK happen first to the lower classes and the trickle up, in the Hamptons it has always been the opposite. If, say, salaries were stable nationwide, but up in the Hamptons, they were set to rise elsewhere six months later.
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Posted on 6/6/22 at 7:49 am to Eurocat
If you want to know whether the economy is headed up or down, track the trends at strip clubs and escort services.
They are without a doubt the most reliable indicators of what direction things are headed in.
They are without a doubt the most reliable indicators of what direction things are headed in.
Posted on 6/6/22 at 7:52 am to timdonaghyswhistle
They are bitching on Reddit and onlyfans about the slowdown already.
Posted on 6/6/22 at 7:53 am to timdonaghyswhistle
I think your problem though, is with all the free money we handed out, strip clubs/escorts/OF became waaay to hot. Talk to a stripper right now, and they are making much less money compared to 2020/2021, but those 2 years are outliers. I think this same metrics apply to airbnb's as well, market was way to hot.
Not necessarily a sign of recession, a bunch of shite out there needs to come back down to earth.
Not necessarily a sign of recession, a bunch of shite out there needs to come back down to earth.
Posted on 6/6/22 at 7:56 am to timdonaghyswhistle
Do you refer to the quality of the "talent"? Because I think you are right FWIW.
Posted on 6/6/22 at 8:05 am to Eurocat
I think it's across the board.
The girls who attract the less well to do are out of luck because their customers are broke.
The girls who attract the higher end customers are out of luck because those customers have less free time and more to worry about. The wife finding out while flush with cash is easier to deal with than the wife who just saw her stocks devalue by 30%.
The girls who attract the less well to do are out of luck because their customers are broke.
The girls who attract the higher end customers are out of luck because those customers have less free time and more to worry about. The wife finding out while flush with cash is easier to deal with than the wife who just saw her stocks devalue by 30%.
Posted on 6/8/22 at 3:38 am to timdonaghyswhistle
Good point.
Posted on 6/8/22 at 5:03 am to Eurocat
quote:Could you give an example?
I have noticed an odd trend, that economic trends which many THINK happen first to the lower classes and the trickle up, in the Hamptons it has always been the opposite.
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I'm not sure what the economic message associated with Hamptons rentals is. Pricing there climbed to its peak a few years back, then flattened out in 2017-18 to near present levels. I guess if the Hamptons are a leading indicator, present RE price escalation elsewhere will flatten out and hold at these levels for a while.
This post was edited on 6/8/22 at 5:10 am
Posted on 6/8/22 at 5:55 am to Eurocat
quote:
One property that was formerly $70,000 per month is now being rented at just $45,000 per month, for example. “We were hoping the renter would split the difference, but it’s a different market right now,” Morabito said of the discount.
What a bargain
Posted on 6/8/22 at 6:59 am to timdonaghyswhistle
quote:Could be the other way around. Flush with cash means she can divorce his arse and be more likely to be set for life financially. If the value of his stocks and assets are in the tank, that means the 50% she takes in the divorce isn’t worth nearly as much and she’s much more likely to have to change the lifestyle she’s accustomed to and/or get back into the workforce
The wife finding out while flush with cash is easier to deal with than the wife who just saw her stocks devalue by 30%.
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