The Secret is Out. Long Beach will come back big time.
"...Sandy has accelerated a trend that real-estate experts see in many waterfront communities..." "The rising cost of housing, insurance and taxes has already turned many vacation spots into havens affordable mainly to the more affluent."
In South Carolina before Hurricane Hugo, ocean side lots went for $200,000 on the Isle of Palms. By 2006, the average listing was $2,000,000.
The average listing in Mantoloking is about $2.2 million and about $1.2 million in Bay Head, NJ.
SOURCE: Wall Street Journal 10/28/13, page 1
Long Beach already has homes and condos selling for $2,000,000.
