Can Real Estate Survive Soaring Interest Rates?
In this episode of Payne Points of Wealth, hosts Bob, Ryan, Chris, and Courtney explore the current state of the real estate markets in New York City and nationwide with Pierre Debbas, a leading NYC attorney and founding partner of Romer Debbas, LLP.
They discuss the record highs of the NYC real estate market in 2021, driven by low interest rates and post-pandemic demand. With rising interest rates now making homes less affordable, they delve into the future of the market: Will rates continue to climb? Will the market cool down, or can prices surge again?
Pierre, with over 20 years of experience in real estate and business law, shares his insights on these pressing questions. Recognized as a Super Lawyer and a thought leader in the industry, Pierre’s expertise covers a wide range of transactional matters.
Tune in for valuable insights from one of the industry’s top professionals. Learn more about Pierre at romerdebbas.com.
Hidden Facts of Finance
The secondary market for private equity stakes is expanding, where transaction volume hit $160 billion last year, up from $80 billion in 2019, according to Evercore. Sales of investments by endowments often go to investment firms like Arden, Lexington Partners, and Blackstone, which are creating funds from portfolios of secondaries. Blackstone recently was buying $5 billion in private equity stakes from the New York City pension system.
In late May 2025, the average rate on a 30 year fixed mortgage rose to its highest point in nearly four months, reaching 6.89%, according to Freddie Mac. Elevated mortgage rates have contributed to a slowdown in the housing market, leading to a decline in pending home sales.
Between weekend home rentals and hotel rooms that go for five-figure nightly sums, a procession of pricey meals, drinks, and Ubers and outfit changes for every stop, a content-worthy girls’ weekend can easily hit $5,000 per person going to Montauk.
