From the March issue: Inflation fears are spurring Manhattan property purchases, real estate brokers say. The rise of currencies in Asia, Europe and Australia, coupled with unrest in the Middle East and a second round of federal government intervention domestically, is prompting both American and international buyers to dive into the Manhattan real estate market.
“We are seeing decisions being made in conjunction with protection from inflation more than at any other time [in recent years],” said Julia Hoagland, a senior vice president at Brown Harris Stevens.
Real estate has been traditionally seen as a hedge against inflation, and these days, “it comes up a lot in conversation,” said Hoagland, a former Wall Streeter with a number of clients who work in finance. [more]
