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Old 08-10-2023, 05:45 PM
 
2,710 posts, read 1,736,446 times
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Quote:
Originally Posted by gf2020 View Post
Depends what you want to do to it, right?

We just did a full kitchen and spent $90K.
Wow, just the kitchen?
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Old 08-10-2023, 05:46 PM
 
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Quote:
Originally Posted by msRB311 View Post
I did hear that when I was in Nantucket...I guess less people were able to afford the 40k rental a week this summer than in previous years. Oh well.
You can afford to go to Nantucket but you complain about kids getting free school lunch? Wow. Just wow.
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Old 08-10-2023, 06:02 PM
 
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Originally Posted by newenglandgal123 View Post
Ok, now I'm seeing what Redplum mentioned a couple weeks ago about how you are always mentioning about when you were in Nantucket. It gave me a chuckle because I'm trying to make the connection between how you being in Nantucket is relevant to this article about America's highest earners (those making $125K+ being hardest hit by the slowing labor market)? lol
Oh yeah yeah, I went to Nantucket everyone and I"m going again in a few weeks FYI.

Lots of high earners in Nantucket which is why I"m mentioning that the high earners are getting hit by the economy.
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Old 08-10-2023, 06:48 PM
 
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Quote:
Originally Posted by msRB311 View Post
Oh yeah yeah, I went to Nantucket everyone and I"m going again in a few weeks FYI.

Lots of high earners in Nantucket which is why I"m mentioning that the high earners are getting hit by the economy.
That's not exactly the context though...you said something to the effect ...I heard about that while I was in Nantucket. (meaning you read or heard about that article while you were in ACK). It's kind of like ok, so what you were in Nantucket at the time you read that article? Like name dropping you were vacationing in elitist Nantucket I guess is what Redplum was getting at?



It would be like me saying "I read that article while I was waiting in the drive thru line at Dunks in Westwood." Ok, so what ....you were in Westwood while you read that article?!
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Old 08-10-2023, 07:03 PM
 
3,626 posts, read 1,851,774 times
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Quote:
Originally Posted by msRB311 View Post
Oh yeah yeah, I went to Nantucket everyone and I"m going again in a few weeks FYI.

Lots of high earners in Nantucket which is why I"m mentioning that the high earners are getting hit by the economy.
Also, the high earners in Nantucket are leaps and bounds more well off than the high earners this article mentions. ACK high earners aren't losing sleep over anything. A $125K /yr high earner that this article cites likely has to start looking more closely at how much they're spending on groceries, extras, etc. in this economy.
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Old 08-10-2023, 07:14 PM
 
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Welp that's what my very high earning friend told me when we were there. That lots of people who normally rent a home on the island couldn't come up with the 40-60k a week to do it. Not saying no one could but that was apparently the case for some of the high earners he knows. Not having 40k a week to spend this summer when you did last summer doesn't make someone poor by any stretch but maybe some are just watching spending more. I'm not going to argue on this. I simply responded to an article someone posted above and thought yep. There were also a few articles about how less people were spending high amounts on cape rentals this summer too.
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Old 08-10-2023, 07:16 PM
 
3,626 posts, read 1,851,774 times
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Quote:
Originally Posted by msRB311 View Post
Welp that's what my very high earning friend told me when we were there. That lots of people who normally rent a home on the island couldn't come up with the 40-60k a week to do it. Not saying no one could but that was apparently the case for some of the high earners he knows. Not having 40k a week to spend this summer when you did last summer doesn't make someone poor by any stretch but maybe some are just watching spending more. I'm not going to argue on this. I simply responded to an article someone posted above and thought yep. There were also a few articles about how less people were spending high amounts on cape rentals this summer too.
Yeah, well I don't feel sorry one bit for those poor souls who couldn't wear their Nantucket Reds this summer while strolling the beach in front of their $40K/week rental!


I did read too that lots of folks who bought second properties in the cape and elsewhere like Maine to use as air bnb or rentals are now scrambling to try and sell them since rental income isn't really covering everything anymore to maintain a second home (due to the decreased demand you mentioned above)
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Old 08-11-2023, 05:58 AM
 
365 posts, read 142,831 times
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Quote:
Originally Posted by newenglandgal123 View Post

I did read too that lots of folks who bought second properties in the cape and elsewhere like Maine to use as air bnb or rentals are now scrambling to try and sell them since rental income isn't really covering everything anymore to maintain a second home (due to the decreased demand you mentioned above)
I keep pretty close tabs on listings in certain Cape towns (bayside mainly - Dennis, Brewster, Yarmouth Port, etc) and haven't seen much change yet. Prices in some of them seem to have leveled off, but inventory is still very thin and IMO too expensive. I've seen several articles about how the rental units didn't book up nearly as quickly this year, though, so maybe things will change.
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Old 08-13-2023, 07:34 PM
 
852 posts, read 556,077 times
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A property in Greenwich, CT was sold for 138.8 million early this month.
https://redf.in/IShBvB

Rumor says the buyer is the Chinese tycoon Richard Liu https://en.m.wikipedia.org/wiki/Liu_Qiangdong

So the rich Chinese are still buying in spite of the complications.
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Old 08-13-2023, 08:03 PM
 
2,710 posts, read 1,736,446 times
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Quote:
Originally Posted by MtPleasantDream View Post
A property in Greenwich, CT was sold for 138.8 million early this month.
https://redf.in/IShBvB

Rumor says the buyer is the Chinese tycoon Richard Liu https://en.m.wikipedia.org/wiki/Liu_Qiangdong

So the rich Chinese are still buying in spite of the complications.
It went 12 million under list price!
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