On Apr 1, 2008, at 4:44 PM, Lenin's Tomb wrote:
> On Tue, Apr 1, 2008 at 9:23 PM, Doug Henwood <DHENWOOD at panix.com>
> wrote:
>
>> The three-month running median sales price of single-family homes in
>> the two towns fell 19.2 per cent to $638,600 (€400,000, £320,000)
>
>
> Are you kidding me? £320,000 for an **expensive** house in a
> deluxe area?
> In London, that's lower than the **average** house price:
Oh, forgot to point out that that average is misleading. On Long Island, the towns are very big. The posh area of the Hamptons is south of state route 27 - south of the highway, as the brokers say. Houses north of the highway are often very ordinary suburban-style boxes. South of the highway we're talking millions for even a modest house. Thus the $200,000/month rental on the beachfront house.
Doug