As U.S. equity markets continue to surge to new all-time highs with each passing day, something you would expect to benefit the titans of high finance in Manhattan, demand for luxurious, multi-million dollar weekend getaways in the Hamptons has all but completely disappeared.
According to a new 4Q report from Douglas Elliman, the Hamptons real estate market is in full-on crash mode with average prices down 29.7% YoY in 4Q16 and volumes down 14.5%.