Speaking by phone on Larry King Live last night, Donald Trump declared that this is the greatest time in history to buy real estate. He stated that there are great opportunities to buy property right now, and that he has just purchased a number of properties, and is continuing to buy more real estate. He said that even those people, who do not have a lot of money, could do well in this market, if they go to the bank and buy one of the bank owned properties, while asking the bank to take back the mortgage.Trump seemed to be as disgusted with the banks as most Americans, and called them incompetent. He said that the government has stuffed the banks with billions of dollars, but the banks won’t lend the money.
When told by Larry King that 45% of Americans believe we are headed to a depression, Trump said that he wouldn’t go as far as saying there will be a depression, but he does think that things are going to further deteriorate, before they improve.
He approves of the job that President Obama is doing, he said, because Obama does need to keep the banks in this country alive. Speaking about the bailout money that the government seems intent on dishing out to large institutions, Trump said that he thinks that the money should be given to the people instead, rather than to the large corporations. He said that in two years, things would be back to the way they were in the “old days”, but with some restrictions.
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