Let's play a little game... This looks like a lot of houses in America, but this one is different - or at least the owner is different. It's a 5 BR home in Larchmont, New York, one of those suburbs North of New York City that everyone takes the train into Manhattan to live the rat race lifestyle that we in South Carolina miss out on - but don't miss at all. My roommate in college Junior year was from Larchmont, and I never heard him once worry about money. Yeah, I was jealous....
Anyway, the owner has been trying for the past three months to sell the $1.635 million dollar house, but he hasn't been able to. No surprise there. In this overinflated market, and with the glut of homes available still, especially in the Metro New York area, he had to end up renting the place out for $7500 a month. While that seems like a lot, it still doesn't cover the two - yes two - mortgages on the place, and the $27,000 a year in property taxes. Yes, the property taxes are $27,000 PER YEAR.....
So, who's house is it? It belongs to Treasury Secretary Tim Geithner, Barack Obama's main man on handling the Financial Crisis this year. Even he has gotten sucked into the housing debacle, where he can't unload his overpriced, overmortgaged home. Yes, he truly is uniquely qualified for the job. Just a question - did Hank Paulson lose his house too ?
.
No comments:
Post a Comment