Soldiering on in the face of crippling adversity, wealthy homeowners are flying the bird at the housing market and instead electing to build at rapid speeds. The Wall Street Journal cites the case of Robert Lapidus, a real estate executive in Bridgehampton, N.Y. who recently commissioned contractors to build a 10,000 square foot home in 10 months— not the usual 2 years such a project might zap from one's life. Mr. Lapidus offers up a priceless quote:
"Time is money for everyone," says Mr. Lapidus. "Those of us who work hard, we want instant gratification, and speed is part of that." While he admits this might be considered a "personality defect," he says he shares it with friends also building Hamptons houses. "This is not a group of people who want to stand in line to get into a restaurant. They call someone to cut in line." Contractors normally charge anywhere from a 20% commission for, in the case of Lapidus, the 70 builders on-site each day, and the five dozen masons brought on to finish a 480-foot stone wall. Builders use "strategic staging tactics" to cut time. We can't help but wonder what might be lost in the rush. Builders, homeowners?
· The Pop-Up Mansion [The Wall Street Journal]