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Saturday, May 24th 2008

10:48 PM

DONALD TRUMP IS NOT IMMUNE FROM HOUSING SLUMP

According to the Wallstreet Journal, "Even the Trump name isn't bigger than the calamitous condo market. Donald Trump's reputation as a real-estate developer could take a hit as some condominium projects emblazoned with his famous name run into trouble.


No one is safe from the real estate market slowdown, Donald Trump is feeling the pain as tightening of credit lowers demand and leaves a few Trump Towers in the lurch. Trump's two Florida projects have stopped construction even after one collected deposits from buyers. Trump's Toronto project suffered years of delays. In Chicago, The Donald, Ivanka and Donald JR are having trouble selling units as 30% of Trump Tower Chicago remains unsold.

Not that The Donald is at great financial risk, since he no longer puts a substantial amount of his own money into these projects. He sells his name to developers.
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