Yes, even the very wealthy may be feeling the effects of the housing slump. The latest contestant in the Biggest Price Losers may be Donald Trump. Homes at The Estates at Trump National Golf Club in Rancho Palos Verdes are not exactly being snapped up. The subdivision has plans for 36 homes priced between $5.5 million and $10.5 million. But to date, a big fat one has been sold – to Trump’s buddy and business partner. Maybe someone needs to send the Don a memo about the state of the housing market these days. After all, the entire Peninsula has only 12 homes for sale priced at more than $5 million. Only one of them has sold. Good luck with that.
· Trump RPV Home Sales in a Slump? [Daily Breeze]