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":"837965e95ffd1967a900a8e5ab3b0169","s":"d9e51ceee3597c6e"}
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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.