Concerns about the impact of what’s expected to be higher\u00a0Federal Reserve<\/a>\u00a0interest rates on the property market are overblown, Jonathan Gray, global head of real estate at\u00a0Blackstone<\/a>, told CNBC on Tuesday.<\/p>\n “We’re later in the cycle, but some people are getting a bit too negative,” said Gray, who manages $103 billion of investor capital \u2014 nearly a third of Blackstone’s total assets under management. He controls more than $200 billion worth of real estate.<\/p>\n http:\/\/www.cnbc.com\/2016\/10\/18\/higher-rates-dont-mean-the-death-of-housing-says-blackstone-real-estate-chief.html<\/a><\/p>\n The housing market in New York is not what it was a year ago. Gone are the days when you could list your apartment for 20 percent more than the last comparable sale and watch the offers roll in over the next couple of days. \u201cThis has been the story for 2016,\u201d said Jonathan J. Miller, the president of the real estate appraisal firm\u00a0Miller Samuel<\/a>. \u201cThe market has largely reset.\u201d<\/p>\n http:\/\/www.nytimes.com\/2016\/10\/16\/realestate\/is-the-market-for-new-york-apartments-softening.html?_r=0<\/a><\/p>\n For the fourth year in a row, buyers from China ranked first among foreign nationals purchasing property in the United States, according to a survey by the National Association of Realtors (NAR). U.S. home sales to Chinese nationals totaled $27.3\u00a0billion \u2014 exceeding the total dollar sales figure of the next four countries in the rankings combined, the survey showed.<\/p>\n Chinese investment in U.S. real estate could hit $50\u00a0billion by 2025, according to a report by the Rosen Consulting Group and the Asia Society<\/p>\nIs the Market for New York Apartments Softening?<\/h1>\n
Wealthy Chinese buyers are a growing force in U.S. real estate markets<\/strong><\/h1>\n