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":"d2c8f3375d4fd4967515a4b8349140b7","s":"f13d34e916a67967"}
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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.