Investment bankers and Hedge Funds honchos are suffering.
Some of them are ditching their beach properties in The Hamptons, prices on trophy homes are coming down and many 'new poor' are rethinking their plans for the summer.
A six bedroom ocean front home offered for the measly monthly rental fee of $200,000 by Main Street brokers was still looking for takers.
These painful adjustments were reported in Housing slump comes to the Hamptons ( Daniel Pimlott, Financial Times).
They might consider buying more modest digs in the Dominican Republic.
I recently read that $40,000 gets you a small place there.
Any suggestions as to other places around the globe where you can stretch your $100,000?
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