Hamptons

Few activists deserve honorable mention more than former State Trooper and Private Investigator Bob Olson. His bona fides are firmly rooted in Riverhead, a Long Island Town that has seen its share of promising development ideas but little in the way of sustained financial successes. Riverhead in general and Polish Town specifically, has been Olson’s home and for several generations of his family.


The real-estate story in the Hamptons is murky. Since East End brokers tend to start telling the truth about business 3 or 4 quarters after reality is painfully obvious, it is safe to say that sales are very slow, prices are off by 30 to 50 percent (from 2006)— depending upon which Hampton and how exclusive the location is— and certain price ranges do not move at all.


There is significant more pain to come in the form of unemployment, evictions and bankruptcy for Main Street.  In case you are not familiar with the term “Main Street” that means you, me, and everyone not working for Goldman Sachs, et al, and not qualified to receive government bailouts.


As previously reported in “Double-Dipping” (January 22nd, 2010), there is renewed interest in what we have been writing about. Actually, what has currently been written about is tame by comparison to what is going to happen. The median drop in housing prices across the country is roughly 30% off the peak. In reality, many areas have experienced reductions in housing prices of nearly 60%.


 

The Charter Revision Commission appointed by Mayor Bloomberg voted last night to postpone by eleven years the effective date when a two-term limit would take effect, even if the voters approve it in referendum this fall.

 


This year’s showing of visionary, art singular and self-taught artists will be held as a two part Exhibition, with two opening parties. The first portion will show May 29th thru July 23rd with the opening reception Saturday June 19th from 5 to 8 pm. Featuring Live Outsider Music and Poetry Reading by Self taught artist, poet, and song writer; Phil Demise will be giving a rare musical solo performance and reading poems from his book PERIODS. The NYC gothic blues duo Lone Vein will also be performing live.


A business associate complained today that his house was falling into foreclosure, his credit-line second mortgage was in default, his credit cards were about to be charged-off, and he has been left, literally, with nothing of value. He lives on Long Island. He has a small business where he derives his income.  He was thankful that he has no assets.  No one can attach them... 


In July 2009 a Federal Court ruled that Southampton Village Police Sergeant Christopher Broich could proceed with a trial against the Village of Southampton for retaliation and discrimination. This was a major victory for Sergeant Broich and his attorneys. The Southampton Press and the East Hampton Independent DID NOT cover this story at the time of the decision.

This turned out to be the summer that never happened in the Hamptons. Between the rain, cool temperatures and lowered expectations, many local businesses that do not serve alcohol suffered. Even restaurants suffered. Beaches were often empty. At times, it was actually quite pleasant not to be buzzed by Porches and Bentley’s trying to find a parking spot at Roger’s Pavilion in Westhampton Beach.

Have you been jonesing for Las Vegas, but stuck spending the summer in the seedy pits of desperation that is the Hamptons?  (That was sarcasm.)  Well anyway, you’re in luck. 
 

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