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End of an Era on Wall Street: Goodbye to All That

Published: Sunday, October 5, 2008 at 5:21 a.m.
Last Modified: Sunday, October 5, 2008 at 5:21 a.m.

JUST before midnight 10 days ago, as a financial whirlwind tore through Wall Street, someone filched a 75-pound bronze bust of Harry Poulakakos from the vestibule of his landmark saloon on Hanover Square in Manhattan…

Over all, the past quarter-century has redefined the notion of wealth. In 1982, the first year of the Forbes 400 list, it took about $159 million in today’s dollars to make the list; this year, the minimum price of entry was $1.3 billion.   see story here

Sad, but true, there are those who don’t know (or care to know) the ‘value’ of anything. Value takes into consideration, not only the cost of replacement, but the benefits of the experience one gets from possession.

Here, on these final days of summer, where so many are sadly thinking about leaving the beach and returning to the concrete jungle, the value of a Hamptons beach house is certainly on many minds…md

In Wall Street’s playground

Published: August 30 2008 03:00 | Last updated: August 30 2008 03:00

 

The number of Hamptons homes sold in the three months ending March 31 fell to 312, a 29 percent decline from the fourth quarter and a 42 percent drop from the first quarter of 2007, the survey said.

see the Bloomberg report:

Hamptons Home Prices Decline on Wall Street Job Cuts, Economy
By Bob Ivry

see The Real Deal article here

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