US Democratic presidential front-runner Hillary Clinton has slammed presumptive Republican nominee Donald Trump
’s past remarks indicating he looked forward to the housing market crash in 2008.
“Donald Trump thought he could make money off of people’s misery,” Clinton said during a rally in Riverside, California, on Tuesday.
The former US secretary of state was referring to the New York businessman’s recently disclosed controversial remarks on a “bubble burst.” In 2006, the real estate developer said: “I sort of hope that happens because then people like me would go in and buy” property and “make a lot of money.”
“He said that a mortgage crisis would have been good for his business,” Clinton said. “Why on earth would we elect somebody president who actually rooted for a collapse of the mortgage market?”
Protesters hold signs in front of Donald Trump’s new Trump International Hotel to demand that he release his tax returns, May 24, 2016 in Washington, DC. (AFP photo)
The 2008 real estate bubble affected over half of US states. Housing prices peaked in early 2006, started to decline in 2006 and 2007, and reached new lows in 2012.
Earlier on Tuesday evening, Trump issued a statement defending his comments from before the housing market crashed in 2008.
“I am a businessman and I have made a lot of money in down markets, in some cases as much as I’ve made when markets are good,” he said. “Frankly, this is the kind of thinking our country needs – understanding how to get a good result out of a very bad and sad situation.”
Later on Tuesday night, Democratic Senator Elizabeth Warren said Trump eagerly sought profits from the housing market crash.
“Donald Trump was drooling over the idea of a housing meltdown – because it meant he could buy up a bunch more property on the cheap,” she said at the Center for Popular Democracy’s annual conference in Washington, DC.
US Senator Elizabeth Warren
“What kind of a man does that?” Warren asked. “Root for people to get thrown out on the street? Root for people to lose their jobs? Root for people to lose their pensions?”
Trump’s campaign has been marked by controversial statements, including with disparaging remarks about Mexican immigrants and Muslims.
In December, Trump called for a “total and complete” ban on Muslims entering the United States
after a deadly mass shooting in San Bernardino, California, which was inspired by the Daesh (ISIL) terrorist group.
The proposal triggered widespread criticism and condemnation in the US and around the world.
On Monday, former US President Jimmy Carter said Trump is tapping into the “inherent racism” in American society to promote his election campaign.