Housing Slump Tarnishes Trump Name

Lackluster sales have halted or delayed several projects
By Nick McMaster,  Newser Staff
Posted Nov 16, 2007 10:03 PM CST
Donald Trump appears at a ground breaking ceremony for Trump International Hotel & Tower in downtown Toronto, Friday, Oct. 12, 2007. (AP Photo/The Canadian Press, Toronto Star-Michael Stuparyk)   (Associated Press)
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(Newser) – Proving no one is safe from the housing market downdraft, Donald Trump is experiencing some turbulence as tightening credit saps demand and leaves a few Trump Towers in the lurch. Two Florida projects with Trump's name have halted construction—even after one collected deposits from buyers—and a third may soon. A Toronto project suffered years of delays and a downsizing, and 30% of Trump Tower Chicago remains unsold.

Not that The Donald is at great financial risk, since he no longer puts a substantial amount of his own money into these projects. But he sells his name to developers, and too many floundering projects could devalue a brand that's already suffering from dilution—one of the Florida projects is said to have failed partly because of two other nearby projects using the name.