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And Now the Bad News for Hamptons Rental Market


Earlier this week came the news that home sales in the Hamptons plunged 41.3 percent annually in the fourth quarter. Now, The Real Deal's Candace Taylor reports The Taylor Report is a document, whose development was overseen by Lord Taylor of Gosforth, concerning the aftermath and causes of the Hillsborough disaster in 1989. An interim report was published in August 1989, and the final report was published in January 1990.  that the rental market's just as dismal dis·mal  
adj.
1. Causing gloom or depression; dreary: dismal weather; took a dismal view of the economy.

2.
:

Though it's early in the season, brokers say the number of Hamptons rental transactions so far is way down in the wake of this fall's financial crisis. Michael Daly, principal broker at True North Realty realty n. a short form of "real estate." (See: real estate)


REALTY. An abstract of real, as distinguished from personalty. Realty relates to lands and tenements, rents or other hereditaments. Vide Real Property.
 Associates in North Haven North Haven, town (1990 pop. 22,249), New Haven co., S Conn., on the Quinnipiac River; settled c.1650, set off from New Haven 1786. Chiefly residential, it has some manufactures, such as aircraft parts, tools, chemicals, and machinery.  on Long Island's East End, estimated that the number of rental transactions may be down by as much as 80 to 90 percent from last year at this time. Since about 10 percent of homes are rented by this time of year, that could translate to more than 1,000 fewer transactions, since there were roughly 13,000 East End homes on the market last year, according to according to
prep.
1. As stated or indicated by; on the authority of: according to historians.

2. In keeping with: according to instructions.

3.
 figures from Town & Country Real Estate.

Not surprisingly, asking rents have dropped as well.
Copyright 2009 The New York Observer
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Article Details
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Author:Tom Acitelli
Publication:The New York Observer
Date:Jan 28, 2009
Words:154
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