Someone Tell Donald Trump There’s a Depression Happening Out There

Wednesday, October 29, 2008
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What a story of stupidity for the formerly almost-bankrupt egomaniac.

Mr. Trump’s challenges highlight the dangers of building very tall buildings. Because they take years to build, markets can change and leave developers in dire situations. In fact, very few supertall skyscrapers have been profitable for their original developers. The Empire State Building was dubbed the “empty state building,” when tenants didn’t move in. The Twin Towers of the World Trade Center required heavy taxpayer subsidy to stay occupied through the 1970s and 1980s.

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