ElectionsInfo.net     An Internet archive of election results and analysis

ElectionsInfo

United States

International

Search

   White House loses nearly a quarter of its value

NEWS INFORMATION

Parent

Parent

News Date

1/6/2011 9:00 am

Author

Media

Yahoo News

Category

News

Database Record

Entered 1/6/2011, Updated 1/6/2011

Original Article

Link

Description

On paper, it sounds like a property to die for: 132 rooms, including 16 bedrooms and 35 bathrooms, with 28 fireplaces, a tennis court, a bowling alley and an attached garage spread out over 55,000 square feet on 18 acres of centrally located land. But the White House, as enviable a property as it is, hasn't been immune from the nation's housing crisis. As syndicated columnist Lew Sichelman first noticed, the property value of the White House has lost nearly a quarter of its value over the last three years, according to the real estate site Zillow. In fact, in the last month alone, the White House's estimated property worth has dropped nearly $5.5 million. [See also: America's most underwater housing markets] At the height of the 2007 housing boom, the White House was valued at roughly $332 million. In January 2009, when President Obama and his family moved in, the fair market value was listed as $292 million. Now Zillow says the property is worth just $252 million — even with all the redecorating the Obamas have done since moving in.


NEWS OF NEWS

Date

Category

Headline


DISCUSSION

All information on this site is © ElectionsInfo.net and should not be used without attribution.