He did not listen, instead he proceeded with buying more properties there, accumulating, more debt, and alienating the people he started with that actually got him to where he was.
No matter how much he played up the Atlantic city was going to feed the next big thing no matter how much know how much matter how much BS no matter how much lies he put into it, it failed miserably, and he had to claim bankruptcy and could not borrow from any bank in the United States.
because he sold himself to Lie to sell everyone else to the point where he believed his own delusion to the point where reality didn’t matter, and he was just gonna force it to happen, but when reality came, it came.
the point is you’re asking me to guess how the policy of this reckless individual is actually going to turn out? Usually, when people conduct studies, they look at things in the past that have already happened, and usually from that we can kind of tell what’s gonna happen in the future.
now when you’re so bad with money, do you bankrupt for casinos, and you can only get foreign financing, not only do you not belong in charge of the companies that you own? You probably don’t belong running the largest economy in the world. Because you won’t listen to anybody. Ever.
no matter how bad the idea is you will tell everybody that it’s great that it’s the best idea ever and even if it fails, you’ll double down on it.
that was what Donald Trump was hot when he started his real estate business was to always double down on the lie, always make it look like a win and always make the other person out to be the bad guy, like the mayor when he wanted funding and he wouldn’t give it to him, he kept talking about what a bad person he was, kind of like he does the other people now .
this is somebody who would not pay their bills, and they would force the employees to sue him because he knew that it was cheaper for him to get them to settle and he didn’t care what happened to them. It was all about him.
so in my opinion, there’s very little to be optimistic about we will be lucky if our currency survives this presidency, quite seriously actually, and I know all the Trump people think that Donald Trump is so great and he did all these things that never really happened.
he was an 80s rich guy that basically kind of bombed out and then he got money from the apprentice. He got money from some financing and some joint ventures with a couple of buildings in New York, he got a lot of financing from Russians and that’s why they investigated him for it because he couldn’t borrow money from the United States so after his trip to Russia in 1990 those were his main investors.
but most of the money and what people know him from is the apprentice, the TV show that’s what really brought him back because before that he was really kind of nobody for a while and he wasn’t really doing that much like Donald Trump doesn’t have buildings all over the place that he built, developers built those buildings and then license the name he’s built only a couple of buildings.
Quote from
@Scott Trench:
I know that anytime Trump's name is mentioned, someone gets triggered. Either the post is too anti-Trump, or too Pro-Trump.
Let me be clear - I do not condemn Trump's policies or necessarily know whether they will be positive in the long-term future or not for real estate investors. Further, "Downward Pressure" may be "bad" for investors, but it may also be "good" for renters - his policies, if I am correct, may negatively impact housing prices and rents, to the detriment of investors and to the benefit of renters, in the near-term.
"Positive" or "Negative" impacts are relative. I write from the standpoint of a real estate investor, and I perceive Trump's actions to be threatening to near-term real estate investment returns, on the whole. I believe this because I think that on the whole, his first two weeks of actions are likely to:
- Have zero no impact on near-term supply (deliveries for single family and multifamily homes 2025 are a result of actions put into motion several years ago)
- Put upward pressure on interest rates: Trump's demand that the Fed lower rates will have absolutely no effect, other than providing a cheap source of easy social media clicks and engagement for real estate pundits. However, the implementation of tariffs, or just the threat of tariffs, is likely to influence rates, by impacting inflation numbers, and this influence may come quickly if prices for many common goods and services and raw materials rise in anticipation of tariffs, or in response to their implementation.
- Put downward pressure on demand: I personally believe it is unlikely that Trump actually deports millions of illegal immigrants who have settled in the United States. This, to me, seems impractical, and a PR nightmare. It's possible he carries it out, but I believe it unlikely. I believe it is far more likely, however, that the effect of his stance and actions materially lessens the flow of new illegal immigrants. This will slow new demand for rentals. In the event that any meaningful percentage of 10-15 million (estimates seem to vary widely depending on which news source you prefer) current illegal immigrants are deported, real estate investors will have a big problem as vacancies soar. It is likely that a huge percentage of that 10M-15M illegal immigrant population are renters. Regardless of whether investors currently rent to illegal immigrants, their competition in the market likely does.
- Put Upward pressure on real estate operating costs: Increased costs for raw materials and supplies, and the likely increased costs for labor involved in many real estate related CapEx and maintenance projects signal the risk of increase in costs for real estate operators.
If there is no impact on near-term supply, a modest slowing of inbound (illegal) migration, more reason to believe that the cost of many goods and services will increase, and real reason to believe that inflation triggered by something other than an increase in the money supply (namely the cost of specific goods and services that are NOT housing going up, which comprise the CPI) will force the Fed to raise rates, this, on the whole, is not good for real estate investment returns.
No, I do not think that there will be a housing crash or a massive drop, nationwide, in rents and prices. Yes, there will be offsets (do Tariffs and slowing illegal immigration increase wages for some workers - likely yes). But, I believe that the actions of the first two weeks should give investors, on the whole, reason to incrementally revise down their expectations for growth in prices or rent growth in 2025. There may also be incrementally better probability of deals, as investors who are dependent on rates coming down may find their hopes disappointed.
I think 2025 will be, by and large a buyer's market, and that the new administration's policies only, and again incrementally, make me more confident that this will be the case.
What do other investors think? Do you agree or disagree?