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":"a03d0ade89b6718cfa8441061e9ebae4","s":"1add58bf980ee838"}
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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.