Brexit Effect On US Real Estate: Why Millennials May Be Priced Out Of Some Markets

http://www.ibtimes.com/brexit-effect-us-real-estate-why-millennials-may-be-priced-out-some-markets-2383618

Our world is so intertwined - if the Brexit happens, it could be good for our markets.

Pricey New York real estate might get even more costly whether or not Britons vote to shuck their membership in the European Union, and millennials might see either more competition from foreign investors pricing them out of the market, or will benefit from falling interest rates — cheaper mortgages — engendered by a faltering global economy.

“There is a fairly strong consensus the British economy is going to be negatively affected by Brexit,” Mermelstein said. “Paired with what has been happening recently in the investment atmosphere, it's only going to put additional pressure on Britain as a place to invest.”

Should Britons vote to go it alone, the British economy is expected to slow, pressuring the pound sterling and bonds.

“The implication of Brexit taking place is that it is looking good for the U.S. market,” Mermelstein said.