Even The White House Value Has Decreased.....Down $78.4 Million
The mansion, worth $331.5 million at the top of the housing boom, would now sell for $253.1 million. Also, housing beats gold as investment over long haul, and a new system for licensing mortgage brokers.
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.
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