Good morning all from sunny Turks and Caicos. Needless to say, all is well here. I've included a picture of the reason I came here, the beach! Live blogging from Grace Bay may just be the way to go. Later this morning, I am meeting with a local real estate broker to get a sense of the market, and I'll likely blog back with some comparisons to the New York market. So far, I'm finding that income producing condo units start at around $500 per square foot with ocean view, while premium beachfront condos start slightly higher. I'm interested to see how the fees, insurance, and taxes work here in this British territory and what the state of the market is here where construction seems to be the island's #1 business. In the meantime, here are this morning's links.
Shock: Hamptons Prices Slump! (NY Post)
Mortgage Defaults Hit New High (NY Times)
Related's Ross Rises On Billionaires List (NY Observer)
Price Cuts At LIC's Casa Vizcaya (Curbed)