Recently, I was helping my parents move from Monomoy to Town. I came across The Inquirer and Mirror from September 23, 1976 (before my time). Naturally, I looked through it. Somethings never changed; The Brotherhood was pushing their burgers, the Dreamland was advertising their movies and the Whalers were battling on the fields with off-islanders. Something that did change were real estate prices. “Cliff Area – Fine Waterfront Homes from $225,000”, “Water View 4 acres open land. 40,000.”, “Dionis 3 bedrooms, 2 baths, lovely water view – $79,500. 1 acre.” The S&P 500 was at 105 at this time in history; today it is at 2004 – 19 times higher. Using that multiple, $4.275mm for a Cliff waterfront home, $760K for a four acre water view lot, $1.5mm for a water view house in Dionis – any takers? Seems like Nantucket real estate was the way to go, especially if you factor in the lifestyle investment. I imagine we’ll say the same thing in another 39 years.
Like A Rock
