Todd Bourgard News Today

(Bloomberg) -- Real estate agents in the Hamptons, the Long Island beach towns popular with Wall Street elites and vacationers alike, are bracing for a brisk sales season. Most Read from BloombergOne of the Most Infamous Trades on Wall Street Is Roaring BackStock Traders Bracing for Worst Shrug Off Hot CPI: Markets WrapChina Has Never Canceled This Many Shipments of US WheatUS Core Inflation Tops Forecasts Again, Reinforcing Fed CautionNY Says Trump Should Post Full Bond During Fraud Case Appeal

The wealthy are still buying despite stock market volatility, rising mortgage rates, layoffs in tech and finance, and fears of recession.

For comparison's sake, the average price of a home in the ritzy Long Island area is now more than $1 million higher than the average sales price in Manhattan

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

Homes in New York’s Hamptons have never been more expensive—because they’ve rarely been this tough to come by.

North Fork sales were also the lowest since 2009, but prices there rose.

A new report shows prices dipped compared to last year, but even amid higher interest rates, a tight supply of homes for sale means bidding wars are still common. 

Despite stock market volatility, rising mortgage rates, layoffs in tech and finance and fears of recession, the wealthy are still bidding and buying.

The most overbought stocks in the real estate sector presents an opportunity to go short on these overvalued companies. The RSI is a momentum ind...

Todd Bourgard will lead Douglas Elliman on Long Island and his predecessor, Ann Conroy, was appointed chairwoman of the region.