According to Jason Trindale, known in Las Vegas, as the King of Condos, the Trump International Hotel in Las Vegas is having a huge exodus of owners trying to sell their condos this year. While the reasons aren’t known, some are implying that foreign investors are leaving worried that Trump’s Presidential campaign may be hurting his brand.
According to Trindale, there are over 64 active listings, many for the incredible deal of under $200k – making them possibly an amazing investment for those that want to take the risk.
The prices have not only dropped in Las Vegas In July even MSNBC host Keith Olbermann announced via Twitter that he had sold his three-bedroom apartment at Trump Palace in New York for $3.9 million, after putting it on the market in April; he absorbed a loss from his 2007 purchase price of $4.2 million. “I got out with 90% of my money and 100% of my soul!” Olbermann tweeted. “Now that I’ve escaped, I can report to you that the market in NYC @RealDonaldTrump apartments is in a free fall.”
“While it’s tempting to blame politics, it’s likely that market conditions have changed, making it harder for uber-luxurious condos to fetch top dollar,” said Nela Richardson, Redfin’s chief economist. “The luxury market has been fighting a chill since late last year and even the gold-plated faucets in Trump’s bathrooms can’t overcome a slowdown in demand from wealthy buyers caused by the rocky global markets in 2016.”
