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(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.