• 
  News
• 
  Blog
• 
  Like
• 
  Follow

Search news    

---

White House sees value plummet 25 percent

January 10, 2011 - Sellers around the country have had to postpone their moving plans as their home's value has decreased, though if it's any consolation, even the president would have a tough time selling in this environment.

An assessment by Zillow.com valued the White House at more than $251 million, nearly 25 percent less than its worth during the housing boom - roughly $331.5 million. The site began tracking the value of the White House as a way to celebrate President Barack Obama's inauguration in 2009. Back then, the home was valued at $308 million.

Experts say similar declines are being felt around the Washington, D.C. luxury market. Many consumers are steering away from these homes when relocating, real estate agents told AOL Real Estate, though the rest of the D.C. market has been fairly strong.

"The D.C housing market in general has been one of the best-performing markets since the downturn because the footprint of the federal government has expanded in terms of government spending," says Jonathan Miller, an analyst with Miller and Samuel, told the source.

That growth has encouraged a number of young workers to consider moving to Washington, D.C. Under30CEO.com ranked the city among the top in the nation for young entrepreneurs.
 

Recent Articles

Related Categories