Tuesday, January 24, 2006

Wall Streeters Spending Bonuses Like its 1999

At least according to this article.

I bet a few extremely high end houses in Rumson get picked up in the next few weeks by hedge fund bonuses, however, I doubt that there is enough Wall Street money to prop up house price at the Shore, on Long Island, up in North Jersey, and all the other place where Wall Streeters live. Inventories are growing quickly and we have at least a month until the alledged seasonally strong spring selling season begins.

"WALL Streeters, flush with $29 billion in record annual bonuses, are pouring their money into real estate.

Bankers, brokers and traders are paying outright in cash or making large down-payments for Manhattan apartments and second homes in the Hamptons, the summer playground for the wealthy.

They are also buying Ferraris, luxury travel and jewellery.

Never mind signs the New York real estate market may finally have reached the top. Wall Streeters are ignoring talk of a bubble and going shopping for luxury condos and apartments."

More...

5 Comments:

Anonymous Elaine Eadon said...

I'm interested in your information on the Jersey Shore. Currently there are 99 listings in Rumson of which more than half are over 2,000,000. Where did you get the information in regard to the bonuses being paid out to the Wall Street Brokers?

Tuesday, January 24, 2006 10:38:00 PM  
Blogger Little Silvered said...

Actually, you are not really interested, you just wanted to link back to your own website since you are a Realtor.

Next time you'll have to pay for the link by buying an ad.

Wednesday, January 25, 2006 6:44:00 AM  
Blogger njcoast said...

Shame shame Elaine.

Wednesday, January 25, 2006 10:11:00 AM  
Anonymous real estate listings said...

You have a great website here, and I'm going to tell all my friends about it.

Tuesday, March 07, 2006 7:15:00 AM  
Anonymous real estate listings said...

You have a great website here, and I'm going to tell all my friends about it.

Tuesday, March 07, 2006 7:23:00 AM  

Post a Comment

<< Home