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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: MoneyPenny who wrote (185210)	2/20/2009 9:17:34 AM
From: Poet	Read Replies (2) \| Respond to of 306849

MP, Have you spent much time on the Vineyard? Your description of Naples sounds very much like what happened there (and probably lots of other places...Jersey shore, Colo., etc.) over the last 10-15 years in terms of the building of homelike structures that only appear to be homes, in which the superwealthy spend a week or two a year. What happened in MV I saw up close-- lots of wealthy Californians buying beautiful properties and building enormous homes in a faux Vineyard style, then overdecorating them in some bizarre "cottage" fantasy. They'd fly in for their two weeks in August, then the house would be left to the gardeners and property managers the rest of the year. Untenable, and it's sucked the lifeblood out of a truly beautiful place, IMO.