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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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.