Quite a bit of froth has been built into the financial system over the past three decades or so, much of it built on credit. Salaries and bonuses of Wall Streeters were on steroids due to this easy money and credit, and like proud peacocks eager to show their feathers, these 'masters of the universe' financiers gobbled up second and third houses in the Hamptons.
Look at me! I am rich!!
Well, the party is now officially over, and the epicenter of the froth is the Hamptons. It always sucks to clean up the morning after a killer party. First off, you're hung over, and the last thing you want to do is get on your hands and knees to clean up dried puke...
If I'm a buyer, I'm still waiting....It took three decades to inflate the bubble, it's going to take a little more than a year or two for it to wear off....
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