Trump: Housing a Steal, Banks 'Dying' to Sell
The wilted U.S. housing market has pushed homes to bargain prices, Donald Trump told CNBC's "Squawk Box" on Tuesday, saying banks saddled with housing assets are "dying" to sell them to willing consumers.
The real-estate mogul reiterated his recent call for buyers to use the downward price spiral in housing — a slide that has only recently begun to arrest itself — as an opportunity to buy.
"There are great opportunities in real estate, especially if you're somebody looking to buy a house and [prices are] going to start to go up," Trump said. "I always tell people, this is the time."
As a spike in foreclosures nationwide has left banks holding large numbers of homes, Trump insisted that banks "are dying to sell their houses. they do not want them." Creditworthy buyers "can make unbelievable deals" with banks that include financing, he added.
However, there is a caveat, Trump said. Formerly stagnant markets such as Miami and New York have recently turned torrid once again, which may make it prohibitively expensive for certain buyers. "There are certain areas that it's too late," he said.