INDIANAPOLIS – Donald Trump proactively rooted for the housing market crash in the late 2000s. As millions of Americans lost their homes to foreclosure, including many Hoosiers, and many more lost their jobs – the presumptive GOP nominee for President cheered this on just so he could turn and make a profit off of the misfortune of hardworking families.
“When millions of families lost their homes and jobs – including many Hoosiers – Trump was ‘excited’ and made it his mission to seek a profit off of others’ misfortune,” said John Zody, Chairman. “When Trump wins, Hoosiers lose. So why do Todd Young, Jackie Walorski, and Trey Hollingsworth still support Donald Trump? Trump is proving to Hoosiers that when there’s a choice between their well-being or making a profit, he will choose money every time.”
This is the same Donald Trump who Todd Young, Jackie Walorski, and Trey Hollingsworth all endorsed for to be the GOP nominee for President. Will they continue to agree with Donald Trump’s divisive and out-of-touch campaign? Or will they finally denounce this toxic message?
BACKGROUND INFO: TRUMP CHEERED ON THE COLLAPSE OF THE HOUSING MARKET
- In March of 2007, Trump said of the real estate market, “People have been talking about the end of the cycle for 12 years, and I’m excited if it is,” and that “I’ve always made more money in bad markets than in good markets.”
- In 2006, he said in a Trump University audio book of a housing collapse, “I sort of hope that happens because then people like me would go in and buy.”
- He noted in the same audio book that, “If there is a bubble burst, as they call it, you know you can make a lot of money.”
The Effects of the Collapse were Devastating
- The value of real estate owned by U.S. households fell by $7.1 trillion between 2007 and 2009.
- Median household wealth fell in the U.S. by 28% between 2005 and 2009. [Inflation-Adjusted? Apples to Apples] Median wealth decreased by 66% among Hispanic households and 53% among black households.
- By February 2010, U.S. employment had declined by 8.8 Million.