In his inaugural appearance on “Squawk Box’s” new weekly feature, “Trump Tuesday,” Donald Trump said housing is the best investment right now, and railed on green office buildings.
Trump reasoned that because of the nearly $16 trillion national debt, “the greatest thing you can own” is real estate, unless the debt gets resolved the “old-fashioned” and “proper” way.
Of course, with lending so tight, Trump acknowledged the only way an investor can take advantage of his advice is to purchase a bank-owned property. “Banks will loan money only if they have to get rid of something from inventory.” he said. “Tell the bank you want a 30-year mortgage” and you’ll lock in a low interest rate.
Much of the rest of the 12-minute segment focused on energy, as oil prices rose to $108 per barrel today. In the discussion, Trump said wind energy has failed, that global warming is turning out to be false and that green office construction yields undesireable results.
He told the story of a friend who was so proud to move his business into a green office building two years ago. The first thing Trump said he asked his friend was whether he was wearing glasses. When the friend replied “no,” Trump said: “Get used to it because you will be someday because you eyes will go bad. You won’t have enough light in the winter and you’re going to be extremely cold. In the summer you’re going to be sweating at your desk.”
Trump said the friend called yesterday to tell him he was absolutely right and the move was the dumbest thing he ever did.
“It’s green because they don’t give you enough energy,” Trump said.