“The Donald” Says it's Time to Buy Real Estate

Business mogul and reality television star Donald Trump has always been very forthcoming with his opinions and advice. Whether confronting a celebrity, or advising people on money management issues, he’s never been shy about offering his two cents.

These days, Trump is touting the benefits of stockpiling real estate. He appeared on Good Morning America recently and spoke on a variety of topics. Just as real estate agents have been claiming for months now, he says that today’s rock-bottom prices make it an ideal time to buy a home.

Trump does acknowledge that it’s difficult to obtain financing these days and chastised banks for not being more willing to approve loans. He says that banks have billions of dollars of taxpayers’ money but are unwilling to loan that money back to the taxpayers. The answer, according to Trump, is to buy up bank-owned properties. Banks gain ownership of properties after they are foreclosed, something that has been happening at an escalated pace in the recent housing crisis. Banks are more willing to help a potential buyer get a loan for a home that they, themselves are trying to sell. He says that the banking industry is flooded with homes that they neither want, nor know what to do with.

Trump has also suggested that if banks receive money under the Troubled Assets Relief Program, then they should be subject to compensation restrictions. He says that in effect, when these banks receive Federal Assistance, they are working for the government. Trump voices many of his opinions and advice in his recently-released book, "Think Like a Champion: An Informal Education In Business and Life." Noteworthy topics which he discusses in the book are keeping your eye on the big picture, creating one’s own luck, going against the tide, and giving yourself another chance.