Trump claimed credit for the housing market created by Obama — and Twitter wasn't having it

Trump issued a tweet that implied he was responsible for a thriving housing market that had nothing to do with him

By Matthew Rozsa

Staff Writer

Published December 22, 2017 11:50AM (EST)

 (AP/Manuel Balce Ceneta)
(AP/Manuel Balce Ceneta)

President Donald Trump was owned by Twitter when he tried to claim credit for a housing market boom made possible by the policies of his predecessor, President Barack Obama.

It all started with this tweet.

But Twitter was having none of it.

One Twitter user also drew attention to a rather inconvenient quote from Trump in 2006. Oh yes, and this Twitter user wrote this one day before Trump's ill-conceived housing market boast.

Of course, Twitter also contained many Trump supporters who refused to let a little thing like lack of evidence stop their president from boasting without challenge.

It is easy to forget not only that the housing market bubble contributed to the economic crash of 2008 and subsequent Great Recession, but that Obama's policies were largely responsible for the economy to reach sufficient health that the housing market could be as robust as it is today.

"It is easy to forget how close the US economy came to an outright depression during the crisis. Indeed, by a number of macroeconomic measures... the first year of the Great Recession... saw larger declines than at the outset of the Great Depression in 1929-30," explained the Economic Report of the President released earlier this year.

The Financial Times noted that "the performance of the economy has been remarkable. The unemployment rate has consistently fallen faster than expected. U.S. business has also added 15.6 million jobs since private-sector job growth turned positive in 2010. Real wage growth has been faster in the present cycle than in any since the early 1970s."

By Matthew Rozsa

Matthew Rozsa is a staff writer at Salon. He received a Master's Degree in History from Rutgers-Newark in 2012 and was awarded a science journalism fellowship from the Metcalf Institute in 2022.

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Donald Trump Housing Market Twitter