I’m not a believer that the interest market, that the real estate market, is going to take a big hit.” More importantly, in the audio book, Trump immediately adds: “At the same time, I don’t think that (real estate bubble burst) will happen because if interest rates stay fairly low, if the dollar stays pretty much where it is or even goes a little bit higher, but basically if you have a weak dollar, this is tremendous amounts of money pouring in, so I don’t think that’s going to happen. Good investors, he was arguing, should buy low and sell high. Whether the “bubble burst” that Trump was hoping for deserves to be called a “crash,” especially a crash on the scale of what occurred during the Great Recession, is open to debate.īut it’s important to stress that Trump was doing nothing than articulating an investment principle - look for a bargain. “If there is a bubble burst, as they call it, you know, you can make a lot of money.” You know, if you’re in a good cash position - which I’m in a good cash position today - then people like me would go in and buy like crazy,” he says in a portion of the audiobook posted by CNN. “Well first of all, I sort of hope that happens because then people like me would go in and buy. The man interviewing Trump for the audiobook says, “There’s a lot of talk, which you’ve no doubt heard too, about a so-called real estate bubble. In 2006, real estate values had peaked and there was concern that they were overpriced, creating a “bubble” that could burst, producing a rapid fall in values. His statement reported in the Clinton ad comes from the audiobook How to Build a Fortune, created as part of Trump University, which has been the subject of three lawsuits from former “students” who allege they were ripped off by the billionaire. A May 23 story from NBC News shows that Trump’s remark wasn’t a one-time affair. A May 19 CNN story offers details of Trump’s comment, along with context. When we emailed the Clinton campaign, they sent us two links. The Trump campaign didn’t respond to our emails. We wondered if there was more to the story. A man who hoped for it has no business being president.” “If Donald wins,” the ad concludes, “you lose.” The Instagram description accompanying the video says, “Millions of Americans lost jobs and homes in the ‘08 crash. That’s followed by audio, identified as being from 2006, of Trump saying, “I sort of hope that happens because then people like me would go in and buy … If there is a bubble burst, as they call it, you know, you could make a lot of money.” “And the man who could be our next president was rooting for it to happen,” the ad contends. It lists 9 million jobs lost and 5 million families who lost their homes. The ad goes on to list consequences from the Great Recession, which peaked in 2008. “In 2006, Donald Trump was hoping for a real estate crash,” it says, showing a picture of Trump giving two thumbs up.
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