Opinion: East Hampton Locals Learning Who Owns the Hamptons

This is written not as an affront to East Hampton locals because for 10 years they were kind and helpful in me putting my life back together after a divorce. That is why it is painful for me to write this one. Locals believe the town belongs to them and their ancestors. Sadly many of the legendary historic homesteads are being sold off because of a host of financial reasons including it’s a time to cash in. Therefore the makeup of the school district has changed in the last twenty years. This is a trend not exclusive to East Hampton but perhaps more talked about by the EH schools taxpayers.

In the last week the big moneyed second/multi home owners class have began to flex their mighty financial muscles panic buying everything from choice meats to $500 per bottle wines spending thousands at a time. This is occurring as local waitresses, bartenders, hostesses and small business owners are out of work or closed down.

This is historically a tough time for many locals as the area is very much boosted by a robust Summer season. Now just when many folks were being stretched comes the National Emergency due to the Coronavirus and boom the helicopters, private jets, and the huge black SUV’s with drivers are arriving with folks. One bank reported a customer wanted to withdraw $50,000 in cash. He wasn’t alone there were others requesting over $10,000. Next chic food stores had folks buying as much as $8000 of food at the checkout counter. Liquor store owners are actually bragging about sales numbers higher than the summer while local folks are making decisions what to do with their last dollars.

Sadly it’s becoming more obvious every year who is becoming a stronger force and who is becoming the weaker force economically in East Hampton. Proud local home owners still think back to 2006 when their home values increased by almost if not more than $50,000 per month. Folks were begging them to take out home equity loans. We know how that played out.

Too often too many locals are saying it is becoming too expensive to live in East Hampton while at the same time there is a need for more helicopter and private jet parking space at the East Hampton Airport.