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What ritzy Manhattan real estate says about stocks
The already scorching-hot New York City real estate market surpassed its latest milestone this week, when news emerged that an apartment in Manhattan’s posh Upper East Side neighborhood would go on sale for $130 million. That makes the triplex penthouse apartment, in a building yet to be built, the most expensive New York apartment listing ever.
For some, these types of milestones reflect the stimulative policies of the Federal Reserve. The Federal Reserve’s easing measures have decreased interest rates and increased asset prices, which provides an even bigger boon to the wealthy and make borrowing money less onerous.