In 1987, he was saying “we are not doing so great”. Well, wtf did he mean? Was he blaming Reagan? Oh, wait, he did blame Reagan back then. The guy is inconsistent in everything but his blaming of Republicans in general and conservatives in particular.
Did you watch?
In 1987, he was saying “we are not doing so great”. Well, wtf did he mean? Was he blaming Reagan? Oh, wait, he did blame Reagan back then. The guy is inconsistent in everything but his blaming of Republicans in general and conservatives in particular.
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Due to the passage of the 1986 Tax act which changed the length of time for depreciating buildings. Because the deals were structured under a shorter depreciation period, when the act did not grandfather those deals signed, many developers had signed for the debt personally therefore, the act had the effect of bankrupting many real estate companies and destroyed the commercial real estate business for approximately 5-10 years.
Trump was 100% right, things became a disaster in the real estate business and caused mass bankruptcies.