Playgrounds of Rich and Famous Hit the Skids

What would Jay Gatsby say?

By Mary Papenfuss, Newser Staff

Posted Mar 17, 2009 9:20 AM CDT

(Newser) – Even crème de la crème communities are curdling in the current crisis, reports the Telegraph. Take the Hamptons, where nearly as many homes were being foreclosed last week as the number of places sold. Residents in the super-affluent towns on Long Island's east end are struggling to meet mortgages or selling off tony homes at fire sale prices. But fear not, as not all amenities have been scrapped—customers at a recent house sale were treated to wine and cheese.

Sean Combs and Kim Porter with their children kick back at their 'Real White Party' at the Combs' East Hampton estate in the good old days in 2007. (Getty Images)

Ashley Beach in Westhampton. (©pvsbond)

Montauk Point Lighthouse. (©pvsbond)

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Playgrounds of Rich and Famous Hit the Skids

What would Jay Gatsby say?

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'Squatter' Who Claimed McMansion Gets the Boot

Texan's 'adverse possession' argument rejected

$26B Mortgage Settlement a 'Modest' Help: Experts

Many struggling homeowners not covered in deal

Calif., NY May Sign On to Robo-Signing Settlement

Obama administration nearing deal for mortgage relief

More Foreclosures Means More Mold

Abandoned homes are perfect environments for mold and mildew

For Sale: Stock in the Empire State Building?

Family controlling the building wants to open new real estate company

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Playgrounds of Rich and Famous Hit the Skids

What would Jay Gatsby say?

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OTHER STORIES ON OUR RADAR

real estate • New York real estate • New York • mortgage • Long Island • Hamptons • fiscal crisis • foreclosures

MOST POPULAR STORIES

[ By Views ]

[ By Comments ]

More Newser Stories

'Squatter' Who Claimed McMansion Gets the Boot

Texan's 'adverse possession' argument rejected

$26B Mortgage Settlement a 'Modest' Help: Experts

Many struggling homeowners not covered in deal

Calif., NY May Sign On to Robo-Signing Settlement

Obama administration nearing deal for mortgage relief

More Foreclosures Means More Mold

Abandoned homes are perfect environments for mold and mildew

For Sale: Stock in the Empire State Building?

Family controlling the building wants to open new real estate company

About Us

Site

Newser By Users

Community

Site Maps

Tools

More News

What is Newser?