Obamas Head to Martha's Vineyard for 10-day Holiday
THE TELEGRAPH: Barack Obama and his family are about to set off on a 10-day holiday in Martha's Vineyard, an island hideaway favoured by the rich and well-connected, before returning to a busy autumn election season.

As they did this time last year, Mr Obama, his wife Michelle and their daughters Malia, 12, and Sasha, nine, are leaving Washington for the coast of Massachusetts.

"The president is definitely going to spend a little time recharging his batteries," said Bill Burton, the deputy White House press secretary.

No public events are planned and like last year, Mr Obama will work to perfect his swing at one of the island's golf courses, Mr Burton said.

"There will be some hiking, some time at the beach, some time at the ice cream store - all the sort of things you do when you're at Martha's Vineyard. You enjoy the people and the good food," he said. >>> | Wednesday, August 18, 2010

House Prices Slump in the Hamptons as Wall Street's Wealthiest Feel the Pinch
THE TELEGRAPH: Wall Street's wealthiest are feeling the pinch as property sales in their summer beachside playground – the Hamptons – are more than 40pc below last year's levels.

What was once an area in which New York's rich just had to have a home, the Hamptons is fast becoming a place where owning a home can be a poisoned chalice, given the collapse of the local property market.

According to new data from upmarket NY estate agent Prudential Douglas Elliman (PDE), second-quarter house sales in the Hamptons – which is made up of a series of small, affluent towns on the eastern end of Long Island – are 43.3pc below the same quarter last year. The raw data show that 307 homes were sold in the three months to June this year, compared to 541 in the same period last year.

Although the second-quarter figures are an improvement on the 201 homes sold in the first three months of this year, all the other leading indicators point to a worsening market in the area. >>> James Quinn, Wall Street Correspondent | Sunday, July 26, 2009