Hampton's Real Estate

 It's consoling to know that Global warming really is no threat at all according to the politicians. The conspiracy theories are many and, of course, time will tell. Meantime, you may want to rethink that purchase of a Hamptons waterfront summer home. Or, even a few hundred feet from the water anywhere. A more "affordable" condo at Southampton's new Fairfield development for the financially challenged might be just the thing. There really IS no affordable housing in the Hamptons, despite the rhetoric. Then again, having a place to show off and sip martinis in the recent "challenged" real estate market may yet win the day. No one's even talking about this subject on Main Street in the Hamptons. At least not in the real estate offices or Town Hall where real estate transfer taxes fill the coffers and top off the Preservation Fund.

Just don't count on passing your $5 or $10 million dollar oceanfront hideaway down to your grandkids, or perhaps even to your children. It may be under water. Soon, Flood insurance may cost more than your mortgage payment and the only advantage will be as a tax write-off. Only SpongeBob's friends drink martinis on an underwater deck.
Filed under: