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":"4ff1655930a683b2ea6879573eb35b19","s":"d6a80b097a51dc0a"}
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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.