OK, Treasury Secretary Timothy Geithner is supposed to be the "man with the plan" to get us out of the economic mess. Which, despite all the positive talk, is declining rather than getting better. So the guy that is trying to fix our economic mess cannot even sell his own house.
So now he is renting it out for less than the mortgage payments. This sounds like a typical government plan to me.
"Geithner put his five-bedroom Tudor near leafy Larchmont on the market for $1.635 million in February, after heading to Washington for his job as the nation's top economic official.
So now he is renting it out for less than the mortgage payments. This sounds like a typical government plan to me.
"Geithner put his five-bedroom Tudor near leafy Larchmont on the market for $1.635 million in February, after heading to Washington for his job as the nation's top economic official.
A few weeks after the asking price was dropped to $1.575 million, the home was rented for $7,500 a month on May 21, said the agents, Scott Stiefvater of Stiefvater Real Estate and Debbie Meiliken of Keller Williams Realty New York.
Neither was directly involved in the rental; the name of the broker and agency that arranged it were not immediately available.
Although $7,500 might seem like a lot of rent, it probably falls a bit short of the monthly mortgage payments on the Geithners' two loans totaling $1.25 million, plus $27,000 a year in property taxes.
Treasury Department representatives didn't immediately return calls about Geithner's home Monday and Tuesday. He was in Beijing for talks with Chinese leaders."
The story can be found here.
Maybe he should think about lowering the price a bit more.
What do you think Tim?
Y'all be safe!
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