Saunders, Real Estate, Hamptons

2 Comments by trueEH

Saks Fifth Avenue closes Southampton store this past weekend; Water Mill's Citarella also closed

I have to agree with ice on this one. Are you insane? How do you suppose this area made it years ago? My family was one of the family's that settled here long ago. How did they do it back then? Fishing, farming, local shops, and so forth. Back then the families that settled were pretty well off if not rich themselves.
The business from the city is what brought the quality of life down for the locals. If the rich from the city didn't influence the cost of living by bringing property value up and everyday shopping expensive the small shops would have survived. Instead of the locals being business owners, they were forced to work for the rich from the city being underpaid for their services so that the rich could afford both their city homes, businesses, and spending habits.
I suggest reading up on country living. Just because there is no big companies does not mean that it is a depressed dry area. Rich off the land is what country living is about. Hell, if so much of the tradition of farming and fishing wasn't abandoned by force, the cost of those foods would be that much more affordable... think about it... " Oct 6, 10 3:45 PM

That's right. Shouldn't we all know by now that we experienced an economic bubble? Landlord's need to lower rent. many of these building were bought years ago and not much more than tax is owed on them. So why is it that rent remains insanely high? Why is it that the shops remain to over price their items if selling them for less means selling more? Thus, being able to make ends meet and pay the rent. For that matter, how much money is being spent redoing the displays in the windows in some of these retail stores? That's savings they could pass down to their customers, which in turn will bring more profit." Oct 6, 10 3:54 PM