Condo Prices Are Dropping Faster Than Approval Ratings. Sad.

RUSS CHOMA
JUN. 20, 2017 3:08 PM

... Trump’s 2017 personal financial disclosure, released on Friday, shows a decline in condo and land sales from his previous two filings. Moreover, in the past six weeks his company has slashed the listing prices for several of his high-end New York City condos.

Trump’s past and present financial disclosure forms do show hundreds of millions of dollars in revenue from his golf resorts, hotels, and other business ventures. But in most cases, they list revenue, not actual profits, and this makes it difficult to gauge how much money Trump collects after expenses. Most of Trump’s major properties are at least partially mortgaged. Yet land and condo sales generate cash that goes directly into Trump’s pocket. Prior to Trump’s entry into the presidential race—which required him to file financial disclosure reports—it was not possible for the public to determine his annual take from real estate sales. But on his first financial disclosure filing, which covered 2015, Trump reported earning about $85.5 million from land and condo sales and another $2 million in commissions from his realty firm. On his 2016 report, Trump reported similar numbers: $79.5 million in land and condo sales and $3.9 million in realty commissions. But in his latest financial disclosure, Trump reported a drop: $55.9 million in land and condo sales and $3.4 million in commissions ...

http://www.motherjones.com/politics/2017/06/trump-condos-price-cuts/