Monday, August 06, 2007

TRUMP: NY Real Estate Market Could "Turn On A Dime"

Just watched an interview Erin Burnett had with Donald Trump on CNBC. She asked him about the state of the NY real estate market. He said "this week" it is good but it could "turn on a dime" and go bad. He said if you ask him next week how the market is, he may say "not so good."

Like I said in this earlier post, the NY real estate market is not immune to real estate downturns.

Trump also said the bursting housing bubble could very easily send the American economy into recession.

Sounds like The Donald wants the Fed to announce a "Bernanke put" tomorrow too and reassure the markets that the fed will cut interest rates at the first signs of "real" problems in the economy.

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