BILLIONAIRES WIN, AS MILLIONAIRES LEFT WITHOUT AN AIRPORT IN EAST HAMPTON TOWN
So this a rather fun story to cover. Why? Because it’s a great example of people getting priced out of the market. But this time, the poor folks who are priced out are…. Millionaires! And, of course, we’re talking about the Hamptons, in New York’s Long Island. The situation is the direct result of the East Hampton Town Airport is going private. So when the local town board closes it, that’s the end of millionaires’ access. When it reopens under private management, only billionaires will be able to use the convenience moving forward.
NEW, PRIVATE MANAGEMENT SAYS YOU HAVE TO OWN YOUR OWN PLANE, BILLIONAIRES SHRUG
So the gist of it is, no, they’re not blocking millionaires per se. But the new private management will only allow use by folks who actually own their own aircraft. So if you can afford your own Lear, don’t worry about it! You can afford the necessary fees. But if you only have a lifestyle budget of under say a million a year, your chartered private flights in jets and helicopters will be a thing of the past. That’s right, you live on the wrong side of the train tracks. Sorry, move along. The Hampton Jitney still runs! Enjoy that closed airspace in a pandemic!
HAMPTONS’ MILLIONAIRES SUDDENLY FEEL LIKE THEIR GRASS JUST ISN’T GREEN ENOUGH
So this is clearly a case where the biggest wealth wins. We’re talking exclusivity, convenience, and bragging rights. I mean, who wants to have to rub elbows with lowly millionaires who have to charter their own private planes? I mean, really. So billionaires in the Hamptons are the only ones who can fly into the easiest airport to have the closest drive to their oceanside homes. And sure, it’s all going to be moot fairly soon. Just have a gander at a map projection of the Long Island coastline. A LOT of that will be underwater, fairly soon.
So in the end, they’re all taking a bath.