If pay on Wall Street is any indication of how well the economy is doing, it’s doing great.
Young Wall Streeters continue to flock to their Hamptons summer shares and are paying, in some cases, around $5,000 each ($15,000 per room, 2-3 people per room) for the summer (that’s what this house is worth, for example).
And it’s not like they hesitant after seeing the high price tag — the opposite is true. There’s a real sense of urgency to nail down houses in the Hamptons before all of the good rentals are taken this year.
If you have to ask why, just watch the video below.
For those curious about what bankers do during these summer shares, this Brobible video is not 100% accurate, but it’s funny and about 15% on target: