Donald Trump has advice for investors: consider residential real estate.
In an interview on CNBC's ‘Squawk Box,’ the real estate mogul cited ‘very cheap’ housing prices as a key incentive for investor interest, adding that the Miami and New York markets were doing ‘unbelievably well.’
When asked what advice he could provide to investors, Trump responded, ‘I say 'Go buy a house,' because the fact is it's a great time to buy. I believe strongly that prices are going to be going up … very substantially over a period of time.’
However, Trump noted that available credit is still something of a stumbling block.
‘Financing is readily available for people that are rich, for people that don't need it,’ he said. ‘If you need it, you cannot get financing.’