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2012-02-14 12:20:33
High End Real Estate Owner: Trump Endorses Romney

Donald Trump will not Fire Mitt Romney.


To be exact, the real estate developer and reality TV king --
 who has several times threatened his own presidential run — changed course about the former Massachusetts governor by endorsing Romney

Trump came out for Romney in Las Vegas ahead of the Republican caucus in Nevada, where Romney is predicted to win and put more distance between himself and Newt Gingrich, Ron Paul and Rick Santorum.

Like Florida, where Romney won big at a primary victory last week, Nevada is another state where the housing crisis has pounded the value of homes and  their homeowners. According to PBS,  Nevada has ' one of the largest unemployment rate than any other state – and, in return, has had the highest foreclosure rate for five years.”

This all makes for some definate dynamics between Romney and Trump.

To Begin, a Pew Servey taken last month showed that 64 percent of definite and likely GOP voters stated that an endorsement from Trump would not make a difference to them. Second: Thirteen percent said they would be would more likely to back a candidate, while 20 percent said it would make them less likely.

The pairing could also seem unnerving to Nevada voters struggling to make mortgage payments or who are at a loss with hundreds of underwater properties.  Considering the fact that Romney owns three homes including a townhouse in the Boston real estate market; a summer compound in Wolfeboro NH and a beach front home in the La Jolla real estate market of southern California.

Trump’s real estate holdings are individually Trump. He has his name all over condos in New York City. Also, in the past he owned several uber high-end properties,  that set a record price when he sold it for $95 million in 2008 and a Ranch Palos Verdes home in Los Angeles that took a loss on in 2011.

So, Nevada being a caucus state, where more than 80 percent of loans are underwater, it's quite interesting news that two of the country’s wealthiest men, with their lucrative real estate holdings, have appealed to the people for support for Romney.

While all four GOP candidates have struggled and come up short with solutions that would address the collapsed values and outsized mortgages — losses that Romney said banks are scared to face and write down –  Romney has shinned through by showing compassion to Nevada homeowners feeling the pain: “So many people have their homes underwater, it’s extraordinary.”

 

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