They Are Eating Less Fillet in Chappaqua, New York

Everyone is feeling the pain. The sub-prime mess and the Wall Street meltdown is affecting people across all income levels. Home expansions put on hold effect everyone in the building industry, architects, contractors, plumbers, electricians, suppliers, appliance manufacturers.

In Chappaqua, New York which is known for a lot of things but mostly as the community where Bill and Hilary Clinton live, they are feeling the pain with 17% of the community dependant on Wall Street for their incomes.

Chappaqua is a 45-60 minute commute to midtown. There are currently 89 single family houses on the market with the average price being $1,749,37, the median price being $1,050,000 and the average days on the market at 148.

The biggest blow has been the loss of jobs in a place where the financial firms of Wall Street and Midtown Manhattan are the daily destination for so many. According to the 2000 census, 17.6 percent of Chappaqua's adults worked in finance, insurance and real estate. With bankers and traders for firms like Lehman Brothers and Bear Stearns now conspicuously absent every morning on the train platform, Chappaqua's upbeat mood has soured.

To read the entire article from the New York Times, here
Wikipedia, Chappaqua, New York
Chappaqua School District
The New Local Website, My New Castle
Train Schedules, Stations, Monthly Costs