Despite the weak housing market, not everyone is feeling the pain, including Donald Trump who recently made a killing selling a home in Palm Beach for a reported $100 million.While Trump concedes that the housing market is still weak, he states that he thinks things are about to turn a corner. Trump said that what is most troublesome to him right now is that people are still pretty shy about investing in America, and is what he calls the "saddest part" of all concerning the current economic situation in the country.
Since the American economy is driven so much on oil, Trump admits that there are better investments that you can make by looking abroad.
According to the real estate mogul, his properties in Palm Beach and Manhattan are doing well but other than that things just aren't too hot these days. If you go outside of Manhattan, Trump stated that he could not "think of a community that's doing well".
So what advice does the real estate genius have to offer for Americans? Actually its pretty positive. Trump states that things are getting ready to get better, and that properties he would not buy a couple years ago are becoming investments that he would make at this time.
Michael Fowlkes has worked as a stock trader for seven years and spent the last four years working as an analyst for the online investment advisory service Investor's Observer.
Reader Comments (Page 1 of 3)
5-18-2008 @ 2:57PM
mrdickieweed said...
Some doorman in Manhattan told me that Trump has those plastic wigs made special, and that they are delivered to his apartment in a box marked "Big Sex Toys"....
5-18-2008 @ 3:21PM
BEAUTIFUL ONE said...
GO TRUMP - YOU KNOW we're not Hatin!!!!
THE DYNAMIC DUO
A and E
5-18-2008 @ 3:38PM
Diane Clark said...
One question, Mr. Trump, how can Americans invest money in America when America has sent our jobs oversea? What the wealthy don't understand is that the backbone of America doesn't have endless amounts of money to spend.
5-18-2008 @ 3:41PM
JCS said...
WATCH OUT FOR THOSE LINKS IN BLOGS THAT TELL YOU TO SEE A CELEBRITY NAKED. THEY ARE TROJAN VIRUSES!!! THEY ARE SHOWING UP IN A BUNCH OF BLOGS SO BE CAREFUL!
5-18-2008 @ 3:42PM
james carter said...
the only ones it is going to get better for is the rich the rest of us are going to continue to get screwed by them.
5-18-2008 @ 4:27PM
Bev said...
Trump of all people is not giving the working class advise. It is for priviledged ones only.
5-18-2008 @ 4:29PM
Mark said...
I think He's full of it I see alot more NEG comeing than Postive Much higher Prices on oIL,Gas ,ETC the Higher everthing else will go up cause of Cost.And the BiGGEST problem is people's pay are not going UP AT ALL.... So unless you got millions laying around not Problem but for the Avrg Person big problems to come as well....Ps don't for Hurrciane seasons right around the street as well..
5-18-2008 @ 4:34PM
lee scott said...
That's not all Trump will be selling before this is all over...I hope he goes broke.
5-18-2008 @ 4:59PM
Mr. Moneybags said...
I'm sure the new owners of his house will like it there. $100 million dollars buys a nice house. No one can argue with that. Hopefully The Donald made a profit on his house and will put some of it to good use. Oh, by the way....focus on making money like me and Trump do and you won't mind paying $4.50 a gallon for regular gas before the end of June.
5-18-2008 @ 5:04PM
Roocco said...
Hope Donald remembers to pay the "Capital Gains Tax" on the profit/ It is the AMERICAN thing to do.
5-18-2008 @ 5:05PM
WE said...
I live in NY City and I like to share with all of you
that we mostly HATE MR TRUMP .
He is one hell of an arrogant selfimportant S.O.B.
He will go over bodys for a and will flatten anybody standing in HIS way.
If this is a person America admires, then it's time to move.
PS:
He inherited most of his money from his father
and than invested, it's real easy to do when you get the base from home.
5-18-2008 @ 5:07PM
WE said...
D T
Is the scuss bucket of NY City.
He will step over bodys for a buck.
Ruthless,arrogant, womenizer, in love with himself.
His daughter Ivanka is not far behind. The apple syndrome works
5-18-2008 @ 5:10PM
LOT said...
I agree with you, WE
I know firsthand how he works and what makes him tick
ARROGANCE
GREED
EVIL
TWO FACED
5-18-2008 @ 5:24PM
matt said...
hope he has to file for bancruptcy a third time; only this time, held accountable for his debts like everyone else after the credit companies paid to change the bancruptcy laws.
5-18-2008 @ 5:27PM
Jennifer said...
Who cares about Donald Trump? He is in the same league as Paris Hilton...full of money and full of hot air. I admire people who are wealthy and don't show it and they share their money with the needy without saying on word about the good they have done...NOW THAT IS CLASS. Donald Trump is nothing. He is tacky.
5-18-2008 @ 5:30PM
grace Royal said...
Donald Trump did not do well on his sale of the Palm Beach property. His asking price for the property was $125 million. He only received $100 million.
I think it is really a great loss---$25 million was a great reduction!!!
Evidently, the new owners were smarter than Trump---since he couldn't sell the property for his asking price.
5-18-2008 @ 5:42PM
Lia said...
Of course I would love to be able to buy a nice house at will like Donald Trump can, and buy and sell real estate like he can, but I don't begrudge him for being able to do it even if I can't because he worked for what he has. He has the right to do what he wants with his money without a bunch of jealous people taking pot shots at him.
5-18-2008 @ 5:51PM
Sexycowgirl12764 said...
Donald Trump is nothing but a dork. He might have money but all that money hasn't fixed how ugly he is or goofy
5-18-2008 @ 5:54PM
Al Schrader ; said...
The property has some good features, mostly that it has 400 +- feet of beach.
But, it is an older home which are notorious for plumbing problems.
But, the real negative is it is in Palm Beach
and surrounded by, well, super rich (security, video cameras, - like they have in prisons, etc.)
I could build a home here for 1/3rd that figure that would blow your mind.
"here" is about 90 miles north of Palm Beach
and east of Walt Disney World.
It is much quieter here and no prison-like security is required.
Al
5-18-2008 @ 6:10PM
Lee said...
Roocco said...
Hope Donald remembers to pay the "Capital Gains Tax" on the profit/ It is the AMERICAN thing to do.
================================
Reinvest it in another property and there is no tax due. If the money is taken at closing, there is tax owed. Found out that info from the old men at afternoon coffee years ago and not an adviser.