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Friday, May 13, 2011

Buying a Trump Property, or So They Thought (New York Times)

Donald Trump at a press conference announcing ...Donald Trump, image via WikipediaEmailTwitterFacebookLinkedInYouTube

By: Michael Barbaro
May 13, 2011

For many middle-class Americans, it is the most coveted brand in real estate, synonymous with sky-piercing luxury and can’t-miss quality: Donald J. Trump.

Far from the New York City towers that bear his name, in cities like Tampa, Fla., and Philadelphia, house hunters clamor to buy into his developments, sometimes exhausting credit lines and wiping out savings for a chance to own a piece of his gilded empire.

But as Mr. Trump, who is weighing a bid for the White House, has zealously sought to cash in on his name, he has entered into arrangements that home buyers describe as deliberately deceptive — designed, they said, to exploit the very thing that drew them to his buildings: their faith in him.



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