“Without question, it is the best summer to come to Nantucket,” said Brian Sullivan of Maury People Sotheby’s International Realty. Nantucket, about 30 miles (50 kilometers) off the southern coast of Cape Cod, is a haven for the business elite, including homeowners Eric Schmidt, chief executive officer of Google Inc., and Jack Welch, former CEO of General Electric Co. Visitors who want to temporarily share the island can find weekly rentals for 20 percent less than last year, said Kate Sayle of Denby Real Estate. Even with those lower rates, there are fewer takers. The number of vacationers committed to renting homes is down 20 percent to 30 percent from a year ago, said Matt Payne, 34, of Congdon & Coleman Real Estate Inc. “A lot of my clients who come out here and drop big dollars have said, ‘No, we’re going to skip it. We’re going to Europe for three weeks, or we’re going to do something else,’” Payne said.
By Tom Moroney, May 22, 2009, Bloomberg
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