Yes, Donald Trump was ‘excited’ for the housing collapse

He just called it good business.

In the first presidential debate, Hillary Clinton called out the fact that Donald Trump cheered for the housing crisis before its total collapse.

That’s actually true. In 2007, he told the Globe and Mail, “People have been talking about the end of the cycle for 12 years, and I’m excited if it is. I’ve always made more money in bad markets than in good markets.”

Indeed, he had no concern about what would come of it, advising investors to buy subprime mortgages at a discount. “I don’t see the subprime problems affecting the higher-end stuff.”

He wasn’t wrong. It mostly impacted poorer Americans, millions of whom lost their homes.


Trump interrupted Clinton during the debate to defend his support for the position he took, explaining, “That’s called business.”