"We want to stand out by being a little different," Zoe Y. Lu, an assistant professor of marketing at Tulane University and the lead author of the paper, told the Wall Street Journal. Influencers are increasingly seeking unique destinations rather than the well-trodden Hamptons. The perception that social media posts make the area less appealing highlights a shift in vacation trends, where originality trumps traditional hotspots.
"The rental market was flooded with inventory this year, and the pace of rental transactions slowed accordingly," says Michele Mahl of The Agency Hamptons. The summer has seen an oversaturation of properties available for rent, contributing to significant price reductions in comparison to previous years and indicating changing demand in the market.
"Home prices continue to climb in the Hamptons," says Hann. This indicates that while the rental market struggles amidst changing trends, property values for homeowners remain stable, potentially offering a silver lining for those living in the region despite a decline in summer rental interest.
Collection
[
|
...
]