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":"4b4430b885dc2c0caf5c52961aeacd39","s":"186d44d6bd384848"}
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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.