This is a pretty good report on the state of our Greenwich real estate market

Leona's place at 521 Round Hill. $39,990,000, and going nowhere

Leona's place at 521 Round Hill. $39,990,000, and going nowhere

A reader (I always assume that readers who send along articles wish to remain anonymous, but I'm happy to give credit, so just let me know if I have permission to use your name) offers up this story from Institutional Investors Alpha", "The reckoning on Round Hill Road".

It's set up to block copying excerpts, so if you want to read it, you'll have to follow the link. Basically, nothing you haven't read here before: the days of $1,000,000 annual bonuses for hedge-funders are gone (computers at quant firms get no bonuses at all, and their human operators are averaging $200,000 Christmas presents), the new, young rich coming from the city want neighborhoods, not 15-acre (huge) house on the Prairie living, and Connecticut's punitive taxation of hedge funds, with more draconian rates on the horizon, is driving the funds to greener pastures.

Reporters love looming disaster stories, and when those stories involve the rich, a certain schadenfreude infests their coverage, but in this case, I think the report captures the essence of what's going on here, particularly in our Back Country.