Buying A TRUMP PROPERTY, Or So THEY THOUGHT

[Segami]

:popcorn: :popcorn: :popcorn:



" Far from the New York City towers that bear his name, in cities like Tampa, Fla., and Philadelphia, house hunters clamor to buy into his developments, sometimes exhausting credit lines and wiping out savings for a chance to own a piece of his gilded empire. But as Mr. Trump, who is weighing a bid for the White House, :cry: has zealously sought to cash in on his name, he has entered into arrangements that home buyers describe as deliberately deceptive — designed, they said, to exploit the very thing that drew them to his buildings: their faith in him.


Over the last few years, according to interviews and hundreds of pages of court documents, the real estate mogul has aggressively marketed several luxury high-rises as “Trump properties” or “signature Trump” buildings, with names like Trump Tower and Trump International — even making appearances at the properties to woo buyers. The strong indication of his involvement as a developer generated waves of media attention and commanded premium prices.


But when three of the planned buildings encountered financial trouble, it became clear that Mr. Trump had essentially rented his name to the developments and had no responsibility for their outcomes, according to buyers. In each case, he yanked his name off the projects, which were never completed. The buyers lost millions of dollars in deposits even as Mr. Trump pocketed hefty license fees.


Those who bought the apartments in part because of the Trump name were livid, saying they felt a profound sense of betrayal, and more than 300 of them are now suing Mr. Trump or his company.



cont'


http://www.nytimes.com/2011/05/13/nyregion/feeling-deceived-over-homes-that-were-trump-in-name-only.html?_r=1&hp


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[no_hypocrisy]

1. THIS may be the real reason why Trump isn't running, even as an Independent

and not The Apprentice.

[Uben]

2. Trump chumps!

It had to be said!

[EnviroBat]

3. I believe that anyone who foams at the mouth to do business

with that narcissistic asshole deserves whatever screwing they get...

[Ratty]

4. Am I so divorced from reality

That I can't conceive of anyone anywhere under any circumstances buying something *because* of the Trump brand?

[Segami]

5. I'm sure theres a ' Trump-Suckers Annum Chart ' laying around somewhere

[hobbit709]

6. You couldn't PAY me to buy anything with his name on it.

[intaglio]

7. Trust is a funny thing

Personally I would never trust any property developer; even less would I trust one that had been through bankruptcy and probably bottom of my list would be one that had indulged in bankruptcy regularly and had even managed to bankrupt a F'n Casino.

Would these people choose to "invest" in over priced gold on the word of a ranting conspiracy nut with a show on cable? Oh, wait ...