Corcoran: Brexit Cost NYC Real Estate U.K. Buyers

The video discusses the impact of Brexit on the New York City real estate market, highlighting the loss of English buyers and the unexpected shift in market dynamics. It contrasts this with the influx of Chinese buyers investing heavily in various types of real estate across the US, including wine estates in California. The discussion also touches on the risks of overbuilding apartment units in NYC, a recurring issue due to long development cycles and early financial commitments. The challenge of predicting market shakeouts is emphasized, with no clear indicators of when they might occur.

What concerns are raised about the risk of overbuilding in New York City?

According to the speaker, why is it difficult to predict when the real estate market will stabilize?