Looking for a summer place to rent on Long Island, New York? If so, there is one home that has been snapped up at an incredible rate. According to recent CNBC report, a house in the Hamptons recently rented for $2 million for the summer, as they say demand is far outstripping a record low supply of homes for sale and rent. While this area is certainly no stranger to high rental & sales prices, the $2 million price tag has really stuck out. Brokers told CNBC that the shortage of homes for sale has also led to a shortage of rentals because homeowners, who typically rented their homes out for the summer, are now selling them or doing nothing at all. Indeed…
“I’ve never seen the Hamptons market like this — ever,” said Gary DePersia, a top broker in the Hamptons for over 25 years. “As soon as a property comes up for rent or sale, it’s snatched up right away.”
Click here to read the full story at CNBC.com.
