Rachel Maddow ran a lengthy segment on the sale of Trump's Beverly Hills home, asking: “Why did someone just radically overpay the president for a property in Los Angeles?” The truth is, no one did by DanAlexander21
at the size of Donald Trump’s fortune. That estimate, just 4% off the reported sales price, was based on conversations with five local real estate brokers, who suggested the property could be worth anywhere from $11 million to $15 million.
Even the broker who offered the lowest estimate, Joe Babajian of Rodeo Realty, said that $13.5 million was not an outrageous amount of money: “It’s definitely in the range.”interviewed a sixth broker, Mitra Sisatar of Coldwell Banker. She said one of her colleagues tried to sell Trump’s house a few months ago. “He couldn’t sell it, or he didn’t have enough showings.” Even so, Sisatar said, $13.5 million was within the range someone might expect for the property.
So despite all the hype, the recent sale is not necessarily an example of Trump getting richer off the presidency. Yes, Trump bought the place for $7 million in 2007. And yes, Los Angeles Countyit at $8.4 million today. But the market has changed over the last 12 years, and the true values of properties in Los Angeles County often diverge from their assessed values. If President Trump pays taxes on his apparent $6.
There are additional issues. Shortly before Trump’s inauguration, his lawyer promised “no new foreign deals will be made whatsoever during the duration of President Trump’s presidency.” If Tanoesoedibjo is in fact the buyer, the recent sale would seem to violate Trump’s pledge. Not that it would be the first time Trump crossed that line. The president has counted state-owned banks from China and India as tenants in two of his buildings. And last year, he even
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