Anybody remember all the way back to February when breathless article after breathless article was published and talked about how hot the Hamptons rental market was? A few choice quotes:
"I think it's a banner year. I really am impressed with how many houses have already been rented."
"We've never had a better season as far as gross commission incomes."
"The season took off like a rocket right after the first of the year."
"It's tough to figure there's a recession."
Well, it looks like the boffo season that many were expecting never really materialized. According to the New York Post, this summer is somewhat of a puzzle. People are forgoing renting for the duration and instead renting in two, three or even month-long blocks. The trend started in the last few years, but now it seems to be the norm. "People don't want to spend money. We may see an influx of people who want deals from July through Labor Day, low-balling."
"There are properties available in all price points still."
"Prices are coming down an easy 10 to 15 percent on rentals because we're getting close to July 1."
"September has become a month that people want to be here...it's less crowded, and the weather is still great."
September is now the coveted month out here?! Man, what a difference four months makes. · Summer catch [NY Post]