BGC CEO: Rate Hikes Won't Impact Real Estate
While the rest of the world is feeling the heat, BGC Partners chair and CEO Howard Lutnick (pictured) isn't worried about pending interest rate jumps.
"Raising rates another quarter- or half-percent will not impact the overall real estate market," Lutnick says. "We think the fundamentals of the real estate business are good.”
Yesterday, Fed chair Janet Yellen announced the central bank may revise its plan to raise interest rates over the course of 2016.
Even if the Fed elects to do so, Lutnick says BGC subsidiary Newmark Knight Grubb Frank’s focus on US real estate—and its low exposure to volatile global markets—gives it an advantage over its rivals.
Barry Gosin, NGKF’s CEO, says NGKF’s full-year revenues and earnings growth for its real estate services beat its competitors and relevant industry metrics "by wide margins." [TRD]