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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsSummer Rentals Hit $1 Million in the Hamptons
Source: CNBC
If you think your rent is high, consider summer rentals in the Hamptons.
Brokers say there are now at least a half dozen homes and estates in the Hamptons that are renting for around $1 million-just for the summer. That works out to $9,803 per day, or $408 an hour. And the $1 million lease doesn't include utility bills or other charges, which can run in the tens of thousands.
"It's unprecedented," said H. Dolly Lenz, a Manhattan broker who also works with buyers and renters in the Hamptons. "The demand is not just strong, it's unbelievable."
... Lenz and others say the surge in Hamptons rentals is being driven by hedge funders, the stock market and the super-rich from Russia, Germany, Italy and other countries.
Read more: http://finance.yahoo.com/news/summer-rentals-hit-1-million-162653313.html
Skittles
(153,111 posts)they are getting it instead
n/t
MuseRider
(34,095 posts)feel like they are looking at empty skin? I feel guilty coming into my nice home with my nice, comfortable retirement. We are certainly not rich but did well enough and timed things well enough we were able to take full advantage of what we made. It would not happen now but still, it is sad to live like this thinking how bad some have it. How do these people justify, how can they justify this? Think how many they could feed with just one hour of that rent. Holy cow this is just despicable.
If things were more equal and there were not so many suffering because of the same reasons many of these people got rich I would not really care how they spent their money but damn, how cold do you have to be to live this way now?
NYC_SKP
(68,644 posts)When will it be time to put it to a stop?
I mean, we outnumber them 99:1.
thelordofhell
(4,569 posts)grasswire
(50,130 posts)It's fun to see him on TV again.
Gregorian
(23,867 posts)I was talking to someone I know who has a friend who actually paid that. This was a month or so ago.
I am still in shock.
JI7
(89,239 posts)also do you know how much money that wealthy friend has ? and how they got the money ?
i went to singapore and during some tour thing they pointed out a hotel and how clinton stayed there and how much it owuld cost for us to stay there. it was a high amount but i can't remember how much.
Gregorian
(23,867 posts)I still am having a hard time fathoming just what someone could do for me for that price. The best meal ever? Sex? A gym? I mean, none of any of the things I can think of even come close. I also imagine it's some amazing penthouse with a 360 degree view. It still doesn't add up. They might even have their own elevator to the mile high bedroom.
It's sickness.
JI7
(89,239 posts)and of course they aren't going to spend it on doing good for others in the world since they convince themselves they earned it or deserve it while others who don't have as much haven't worked as hard.
kentauros
(29,414 posts)Considering how many obscenely wealthy people there are, "at least six houses" renting at a high-dollar amount doesn't seem like anything to write about.
hatrack
(59,574 posts)But I agree - (A) who cares? and (B) not much of a story.
Initech
(100,038 posts)Historic NY
(37,449 posts)Major Nikon
(36,818 posts)At that rate I can hardly be expected to maintain the yacht, the jet, and my car elevator. I'm thinking government subsides is the answer.
JI7
(89,239 posts)Historic NY
(37,449 posts)Marrah_G
(28,581 posts)grasswire
(50,130 posts)Montauk. East Hampton.
Shoulda kept it in the family.