the hamptons goes in cycles and this is an especially bad one. an infusion of way too much new money (more so than usual) and a disproportionately large number of the old guard is gone or going. houses that even 2 seasons ago would have been snatched up in a matter of days are sitting on the market. and for the first time in my life i actually saw "reduced price" on a for sale sign.
so it is a buyers market.
but its still a risky buy. you've got to have faith that if you sit out the upcoming (or ongoing, however you want to look at it) wall street fallout over time p-diddy, the supermodels and their celebrity friends will bail out and the hamptons will become the hamptons again.
so if this sort of logic works for real estate - - why not the record industry? how is this so different from ... ok, this band's first record didn't sell a gazillion copies but its a good record and there is every indication their next one will be even better and will sell more. if we just have faith in this band and look a little beyond this quarter we may have a bruce springsteen or a ______ (fill in the blank with a band that doesn't suck) on our hands in a few years.
it requires no more faith than believing the hamptons will ever be what they were again.
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forget mission of burma
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