Commerce
January 8, 2014
By Joe McCarthy
The New York luxury real estate market has been abuzz with surging numbers posted left and right, but will the trend continue?
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","iv":"e82979d2837ee5d2bd36c4cf1e0086d5","s":"a8a853b495efe4f5"}
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We do not expect the QM rules to materially impact the luxury and ultra-luxury markets in most major US metropolitan areas. Since 2012, we have seen a dramatic increase in the number of all-cash transactions (domestic and foreign purchasers) in the 2M and above market nationwide, and even more so in the ultra-luxury market.