NYC cracking down on secret real estate buys

CNBC's Robert Frank joins 'Power Lunch' to discuss New York's new law to crack down on secret real estate buys.

[@hansel2001]

Venezuelans in Miami and Russians in NYC? That’s the best CNBC came up with? That’s some serious kowtowing.

[@Muriel-1112]

Home prices will come down eventually, but for now; get your money (as much as you can) out of the housing market and get into the financial markets or gold.

[@Bigwilli123]

The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes

[@Andres_853]

If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets.

[@Linda.xing-tj2fh]

Who do you work with,?

[@Linda.xing-tj2fh]

​@@Andres_853??

[@Andres_853]

CHRIS RYAN STEWART

[@FLIPPER305]

And if they don"t they will be put on double secret probation.

[@jackbraddell1124]

$10,000 fine is nothing to these people.

[@Wing.Wednesday]

It won’t be….it will be the same

[@dontdoitbro5495]

Cracking down on secret means the little hat people werent in on it and wanna make it harder for wveryone else

[@dave9351]

$10,000 fine is laughable, as well as the "two years in jail" (WHO goes to jail ?) This is political window dressing designed to show that the politicians are doing their jobs More "Swamp theater"

[@bobslate7231]

If they ever go to sell that property there will be a title search and no buyer will buy it without title insurance.

[@thomasmongold7358]

Absolutely 100% incorrect. Realtor for 31 years. 75% of cash buyers waive title ins. I own 60 properties. I got Title ins on 20% of them.

[@madbarber1670]

Can you please explain to me why i wouldnt want title insurance? I have 2 prperties and looking acquire more and have title insurance on both? Going forward just tryingvto gain insight and knowledge....thanks in advance​@@thomasmongold7358

[@RichManhattanite11]

I’m going to buy more real estate and charge you more!!! I’m teaching my kids how to pin the eviction notice on your moms apartment 😂😂😂😂😂😂

[@RichManhattanite11]

I loveeeee real estate and I teach my kids how to pin the eviction notice in your big mamamas house!