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":"54dbca33f2c0e8a4bde566e5a6de119b","s":"98e576ce7a99b2fc"}
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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.