Bride & Groom MOM Subscribe

Find Local

Open House Blog > The Real Estate Market

Obama VIPs Feel the Housing Slump

Not even the nation’s top officials are immune from real-estate troubles.

Courtesy of
According to the Wall Street Journal, FDIC chairman Sheila Bair removed this 14-room Colonial in Amherst, Massachusetts from the market earlier this month. Bair and her husband paid $355,000 for the 150-year-old house in 2002, which they later renovated. The house listed in April for $795,000, dropped to $745,000 three weeks later, then dropped again to $695,000.
Secretary of the Treasury Timothy Geithener can empathize. The country’s top economic official probably wishes he didn’t own this five-bedroom Tudor in Larchmont, New York, which he bought for $1.6 million in 2004. Geithner put the house on the market in February for $1.6 million, then dropped the asking price by $60,000 a few weeks later. When he still didn’t get any bites, he rented the home for $7,500 a month.

Read Next

Design Deals

blog comments powered by Disqus

Most Popular on Washingtonian

“Life Below Zero’s” Andy Bassich on Why He Moved From Washington to Rural Alaska

The 25 Best Inexpensive Restaurants in Washington

Here's a Map Showing Dozens of Washington's Rooftop Bars

8 Ways to Hack Eating Out

6 Myths About Tipping in Restaurants

Memorial Day 2015 Dining Guide: Crab and Oyster Feasts, Patio Parties, and Bottomless Brunches

How to Spend Memorial Day in Washington, DC

Things to Do in DC on Memorial Day Weekend

20 Great Walks Around Washington, DC