The Crisis Hits Home for Bernanke
Looks as though the housing downturn may have cost Ben Bernanke more than $250,000 in home equity. "Bernanke lives in Washington's Capitol Hill area in a four-bedroom, 2,600-square-foot house he bought new in May 2004 for $839,000," Bloomberg reports. Despite a likely run-up in value before the housing bubble burst, Bloomberg adds, "almost four years later, it may not be worth any more, according to real estate records and local agents."
From Bloomberg:
"Even though he's the Fed chairman, he's going to get hit—but I think [a] lot of people will in Washington,"' said William Wheaton, an economist at the Massachusetts Institute of Technology. The value of Bernanke's home "probably went up to $1.1 million and it's probably back down to $840,000," because prices in Washington just a couple years ago "got out of control," Wheaton said.
Tags: real estate | Ben Bernanke | Washington, DC | housing market | housing
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The home crisis
Bernanke ??what a fool do we have there in Washington's Capital Hill. This housing downturn all over our country, he should have seen this coming two years ago, at least I did and I am sure many more ordinary people like me had that same feeling.This shows you again what kind of people we have In this Bush administration, they are leading our country straight to hell and believe or not , there is no end in sight yet .Our economy went down the drain, the US dollar could fall to $2 dollar for 1 Euro .Many countries don't want to be paid in dollars ,they say no thank you but we want the Euro now, Is there any more good news,let me know.
I always like to hear some good news,but I don't have it,sorry.
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