Listing Type
Home Type

Price Range
Property News:• For Sale• For Rent• Tax• Mortgage• Home Prices

Good News: Disclosure of Cash Buyers for Lux Real Estate Effective in Curtailing Money Laundering; Bad News: Homes Sales Cut by 70%

(COSTAR) - 1 years ago
 The Department of Treasury's crackdown on potential money laundering involving all-cash buyers of real estate that began in 2016 deflated the value of luxury homes sold in the nation's largest markets by more than 4 percent. It also reduced the number of all-cash sales by 70%, according to a new authoritative analysis by the Federal Reserve Bank of New York and the University of Miami. Beginning in January 2016, the Treasury Department's Financial......
see more...

Similar recent news articles...

Older news

© 2019 - Powered by, Inc. All rights reserved.