Amit Sethi

Commerce

Cabanamania

My wife and I joined a Long Island beach club this year in order to have a weekend summer activity for our 1.5 yo daughter. It was a bit of an extravagance for us, but much more than a country or Hampton house. We were talked into getting the last of the "Ocean Front" cabanas, which were a little more expensive than the other cabanas that surround the pool or sand court. Of course, it turns out that there are actually 6 or 7 empty ocean front cabanas this year (which cost about $10,000 for the summer, usually shared by two couples and kids).

The uncommon economic indicator: Up until this year, there has always been a three or four year waiting list for ocean front cabanas! Apparently renters, who come mostly from Brooklyn, Manhattan and the North Shore of LI, are a scarcer breed now and more reluctant/undable to plop down the dough for such a luxury.

Here's a picture of my daughter playing in an empty cabana:

Atlantic Beach, Nassau County