Trump: "This is the Time to Buy a House"

In an interview yesterday on CNBC, Donald Trump was asked his thoughts on the country's current housing market climate. Here's a partial transcript of that interview. "TRUMP: There are great opportunities in real estate, especially if you're somebody looking to buy a house. I always tell people, this is the time. I tell all of my employees, if you want a house, this is the time to buy a house, and go get it from a bank, because the banks will give you financing, if you buy it from a bank.

CNBC: Donald, how do we get those lists?

TRUMP: You can get them from the banks and the banks hire people specifically to sell their houses. The banks are dying to sell their houses. They do not want them. They're being absolutely mugged by the people that run the houses. They hire security companies to go in and guard the houses, and the security guys are robbing the houses. The banks do not want these houses, and you can make unbelievable deals. I tell everybody that has a mind, go out now, buy a house. Ideally buy it from a bank. If you don't buy it from a bank it's virtually impossible for these people to get financing so buy it from a bank.

CNBC: What about raw land in places like the gulf coast? Do you see much opportunity there?

TRUMP: I love what you said about raw land before. I think it's great. One of the best investors I know is buying out as much raw land as he can in decent locations. You can't go bad location because that's too long. But in decent locations, and in some cases, almost all locations, [buy] because the raw land is selling at pretty good prices right now, pretty good for the buyer. Yes. I think buying raw land is great."

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