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":"a1343d1d8eb60cf2501e12fb211efd6d","s":"f24cabf3458395c1"}
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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.