Value of the White House Drops by $15.5 Million
Even the White House isn't immune to the nationwide housing slump - the famed presidential mansion in Washington D.C. plummeted in value by $15.5 million to $292.5 million over the past year, according to a new study by real estate site Zillow. This marks the second year in a row that the landmark's value has fallen, making for a total loss of $39.5 million since 2008, meaning it was once worth $332 million. Designed by Irish architect James Hoban, built in 1792 and much improved and expanded since, the gated residence at 1600 Pennsylvania Avenue now stands at 55,000 square feet and sits on 18 landscaped acres. It also has 132 rooms including 16 bedrooms, 35 bathrooms, three kitchens, three elevators, 28 fireplaces and an underground bunker. Don't get to thinking that the loss is purely President Obama's, however - we the taxpayers actually own what is increasingly looking like a white elephant.
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Reader Comments (Page 1 of 1)
lken06880 Jan 22nd 2010 7:26PM
this is a one stupid item, don't you folks have anything else to write about?
carriere.nathan Jan 23rd 2010 1:12AM
Does it really matter? I don't mean to say this is a pointless post. That's not what I mean. I just mean, does the value of the White House count for something? I don't see the government or whatever putting it up for sale, lol.
frilund Jan 23rd 2010 2:48AM
The square footage is with the wings included? I'm not American, so and not a White House expert either, but I think the wings are included in your measurement.
Phillip Pessar Jan 23rd 2010 10:31AM
This has to be the most inane post I have ever read on this blog. It makes absolutely no sense.