July 25, 2012
“It’s a great time to buy,” Trump said. “I believe strongly prices are going to be going up. They were up a little in the second quarter but I really believe they’re going to be going up substantially.”
He went on to say the best way to buy is through the bank because they’re dying to get rid of foreclosures.
Earlier this year Trump purchased the Doral Resort and Spa for 150 million. He plans on renovating the luxury resort for another $150 million, according to the Wall Street Journal. Trump believes that Miami is on its way back in a big way.
In addition to Trump’s Miami purchase, buyers from Central America, South America and the Carribean have buying up luxury real estate in Miami in a big way. Trump said that Miami is like the headquarters for South America, and we will be hearing a lot about Miami’s comeback in the news in the months to come.
Full Story: CNBC
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