“There goes the neighborhood!” was often mouthed by racists whenever a black family moved into a white neighborhood. So it is remarkable to see how far blacks have come since then, and it’s also funny to note that the value of the White House has risen 7 percent since President Obama took office.
In a press release, Zillow describes the current value of the White House:
Were a potential buyer to take out a standard 30-year, fixed-rate mortgage on the White House today (assuming 20 percent down and a 3.276 percent interest rate), the monthly payment (including taxes, insurance, principal and interest) would be $1,130,832, according to Zillow.
If the Obamas decided to rent out the White House to another family, tenants could expect to pay more than $1.75 million per month in rent, according to the home’s Rent Zestimate.
That says it all. Whoever enters the White House after the 2016 election, be it Hillary Clinton, Chris Christie, or some unexpected upstart, will be inheriting a descent piece of property.