Network officials also said voters should expect more of a Koch focus on grassroots activism throughout the 2020 election cycle.Politicsread more
Stores are extending hours and cities are spending on light shows as China tries to encourage consumers to spend more money at night.China Economyread more
Stocks in Asia Pacific edged up in Friday morning trade as a series of developments overnight on the U.S.-China trade front dampened hopes.Asia Marketsread more
GM's usage of temporary workers, potential closure of plants and health care contributions remain major sticking points, according to people familiar with the talks.Autosread more
One person was killed and five others wounded on Thursday in a shooting on the streets of Washington, D.C., not far from the White House, police said.U.S. Newsread more
In a room full of avowed capitalists, policies that sound to some like socialism are bound not to go over well.Delivering Alpharead more
Trump has criticized Facebook numerous times since becoming president, most recently posting on Twitter that the company's proposed digital currency, libra, will "have little...Technologyread more
Republicans and Democrats have long since separated themselves by ideology, leaving each more uniformly conservative or liberal than ever. And now a new data analysis by the...Politicsread more
Asian cities are on the rise and are dominant in the Fintech space.Financeread more
At least in terms of monetary policy, Pence says should be taking after other regions who keep their benchmark interest rates near zero.Delivering Alpharead more
The Pentagon on Thursday said the recent attack on Saudi Arabian oil facilities were "sophisticated" and represented a "dramatic escalation" in tensions within the region.Defenseread more
If you're looking for that mansion in the Hamptons this summer, your choices may be dwindling.
The inventory of luxury homes in the locale—which make up the top 10 percent of sales—is down 42 percent in the first quarter compared to the same period a year earlier, according to a report from real estate broker Douglas Elliman and appraiser Miller Samuel. There were 259 luxury homes on the market, about a 14-month supply, in the first quarter.
During the quarter, the average sale price in the Hamptons hit $1.76 million, up 3 percent from 2014.
All those numbers mean that this summer in the Hamptons will be especially competitive for wealthy real estate buyers.
"For buyers, it's going to be a little tough this year," said Jonathan Miller. "It's not going to be frantic. But it's going to be more challenging than last year. Supply is tighter and demand is, if anything, a little stronger."
Of course, a strong first quarter doesn't guarantee a strong summer. But Miller said, "We had a robust first quarter and I expect more of the same in the second."
The first-quarter median sales price of $920,500 was the highest first-quarter number in seven years. It also marked the highest first-quarter sales volume in eight years, suggesting that the bad weather did little to deter wealthy Hamptons buyers.
Miller said that because the Hamptons is "joined at the hip" with the Manhattan market, the strength in Wall Street salaries and other high-level jobs in the city is driving demand. Yet, most of the growth isn't in the $20 million megahomes, but more in the $1 million to $5 million cottages and more modest getaways.
"The 1 million to 5 million is the bread and butter of the market," he said.