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Long-time Hamptons locals say uncontrollable spending is ruining luxury excursions as prices soar

For many years, Hamptons have complained about rising prices at vacation hotspots and blamed a new crowd of wealthy individuals for rising costs.

Locals claim that the recent wave of wealthy residents is “ruining the Hamptons,” citing rising housing, food and transportation costs.

“I have so much money right now and it’s unpleasant. I’m one parcenter. But I’m not like these people,” said one who bought an Amagansett house in 1991. The woman told the vanity fair.

“Everyone who has money is here. If I weren’t here yet, I wouldn’t come now. Conspicuous consumption is just terrible.”

Hamptonites complains about rising prices at vacation hotspots and blames a new crowd of wealthy individuals for rising costs (Photo: Duriea’s restaurant in Montoak)

1 Parcenter claims that a new wave of wealthy individuals is

1 Parcenter claims that a new wave of wealthy individuals is “ruining the Hamptons” because of increased housing, food and transportation (Photo: Arbor Montauk)

The woman shared how to walk daily by a house allegedly owned by a hedge fund manager to find a crew planting a fully grown tree at a cost of $ 50-100,000 per day. ..

Amagansett resident said she “had to work to relax” this summer.

‘[The Hamptons is] It’s another place now, “she insisted. “It’s an era of qualification.”

Another Hampton, Heidi Wald, said it was not uncommon to find large bills scattered on the beach.

“I was always looking for sea glass and I looked down because there was a perfect clear $ 50 bill on the shore.” The Hamptons only, “Wold told the magazine.

House prices in the area have recently been “ridiculous,” said Catherine Kellinger and her husband, Lee Hanson, a chef and partner at a Frenchlet restaurant in Manhattan.

The couple began visiting the Hamptons in 1998 and rented them until they could afford their place. They argued that it wouldn’t have been possible at the current price.

“We were five friends in their late twenties who rented each year until we could buy our own affordable home by Hamptons standards,” Kellinger said. “Freelance writers and young cooks couldn’t do that today.”

Price increases are also evidenced by leisurely activities.

A 25-year-old vacationer said she and about 30 others each donated $ 3,000 to rent a Montauk home for a month, but the price paid for the property was spent on the go. There is nothing compared to the amount.

Holidaymakers say eating out is more expensive than last summer. Some even said they paid $ 88 for lobster Cobb salad at Montauk's hotspot, Duriea's (pictured).

Holidaymakers say eating out is more expensive than last summer. Some even said they paid $ 88 for lobster Cobb salad at Montauk’s hotspot, Duriea’s (pictured).

Another claimed that her friend went out overnight and had a $ 7,000 bar tab (Lulu Kitchen and Bar file photo).

Another claimed that her friend went out overnight and had a $ 7,000 bar tab (Lulu Kitchen and Bar file photo).

Residents are also reporting rising real estate costs. One couple claimed that they couldn’t afford to buy at the Hamptons while looking for a home in the current market.

“The table is ridiculous,” she said. “I have a friend who finished the night with a $ 7,000 bar bill.”

She also quoted Uber’s ride, which costs $ 60 and $ 88 to go a mile to Montauk’s upscale dining hotspot, Duriea’s Lobster Cobb Salad.

Another woman reiterated her 25-year-old claim that meal prices were much higher than last year.

“The bill was $ 300 for four people and there was no alcohol,” she explained. “I ate two iced teas, a frize salad, a chicken Caesar salad, and some oysters.”

Some residents said the impact of coronavirus quarantine could have contributed to the price increase. Others have accused former President Donald Trump of tax cuts, “making wealthier people even richer in the last four years.”

These complaints arise when Hamptons companies are facing a large labor shortage.

Soaring local rent prices, a temporary ban on work visas, and many hospitality workers aren’t keen on rushing back to harsh, low-paying jobs after the generous COVID-19 boosts unemployment. The combination of the facts left many Hamptons unpaid for the first time.

Real estate sales and prices soared, making it difficult for summer workers to find rentals, resulting in a decline in housing inventories available throughout the Hamptons in the first quarter of this year, eventually leading to more facilities. Has become short for the season.

Labor shortages make it almost impossible for residents to need an electrician, plumber, or gardener. It also affected their cosmetology system, as salons struggled to find enough staff to meet their incredible demand.

Long-time Hamptons locals say uncontrollable spending is ruining luxury excursions as prices soar

Source link Long-time Hamptons locals say uncontrollable spending is ruining luxury excursions as prices soar

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