The two presumptive presidential candidates have engaged in a war of words over the housing crisis, with one candidate accusing another of being excited about the prospect of making money off of millions of families losing their homes.
Presumptive Democratic presidential nominee Hillary Clinton has launched an attack against her rival, presumptive Republican nominee Donald Trump, for some comments that the latter made a decade ago regarding the forthcoming housing crisis.
According to an audio posted by CNN, Trump said in an audiobook produced for Trump University in 2006, about two years prior to the housing crisis: “I sort of hope that happens because then people like me would go in and buy. You know if you’re in a good cash position, which I’m in a good cash position today, then people like me would go in and buy like crazy. If there is a bubble burst, as they call it, you know you could make a lot of money.”
Trump also said that he didn’t believe that the crash would happen if interest rates stayed low and the dollar remained weak: “There’s just tremendous amounts of money pouring in so I don’t think that’s going to happen. I’m not a believer that the … real estate market is going to take a big hit.”
Trump’s comments from 2006 have prompted Clinton to accuse him of, among other things, “Rooting for the crisis,” “devastating millions of families,” and “hoping” the housing market crash would happen “so he could make money off of it,” all through various Tweets on Tuesday.
Trump did not back down from the comments he made a decade ago. He responded to Clinton’s attacks in a statement on Tuesday: “I am a businessman and I have made a lot of money in down markets, in some cases as much as I’ve made when markets are good. Frankly, this is the kind of thinking our country needs—understanding how to get a good result out of a very bad and sad situation. I will create jobs, bring back companies, and not make it easy for companies to leave. If they do, they will fully understand that there will be consequences. Our jobs market will flourish.”