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Monday, January 03, 2011

White House has lost quarter of it's value

Myself, aged 6, outside of the White House
LA Times:
The White House is not just an American icon. It also could be called a symbol of the American housing market, because, like many of the country's houses, it's not worth what it was once.

Over the last three years the president's home and home office has lost nearly a quarter of its value. In the last month alone the value dropped almost $4 million. Does any of that sound familiar?

The 132-room mansion — 16 bedrooms and 35 bathrooms on 18 acres in the heart of the nation's capital —was worth $331.5 million at the top of the housing boom, according to Zillow, the online real estate marketplace. But the latest "Zestimate" puts the price tag at a mere $253.1 million. That's a 23.6% decline in value.
You know I never associated, monetary value to the White House. Especially since it is the residence of the President of the United States and it's not likely to be sold off anytime soon.

Via Curbed Chicago.

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