Forbes enters the end of Q2 market report madness as only Forbes could, with a video discussing the 'après-recession tone' for new luxury in the Hamptons. The basics: Calvin Klein knocked down the Dragon's Head to replace it with a 4,000 square foot main house and some other buildings. Over on Gin Lane, the priceupping is still stumping the world over. John Paulson took a multi-million dollar hit on his Ox Pasture estate. And, what do you know, the market is still off by 20%. Overall, the quickish turnaround is the result of less sub-prime mortgage issues in the luxury market, as most homebuyers would have had a conventional mortgage or just paid cash. It may be après-recession, but it's still avant-le-surplus. Buy wisely.
· Hamptons Housing Market [Forbes]