国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

USEUROPEAFRICAASIA 中文雙語(yǔ)Fran?ais
Home / Fashion

Bernanke feels impact of US housing slump

China Daily | Updated: 2008-03-21 07:04

The US housing recession has arrived literally on the doorstep of Federal Reserve Chairman Ben Bernanke.

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. Almost four years later, it may not be worth any more, according to real estate records and local agents.

Bernanke's timing wasn't the best - values in the area peaked a year later - and he is hardly alone among Americans living in an investment that's turned cold. His situation shows that the slump that began with distress in the subprime market is now engulfing wealthier neighborhoods, including some in the nation's capital.

"Even though he's the Fed chairman, he's going to get hit - but I think 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.

Bernanke, 54, started working in Washington in 2002, when he joined the Fed's board of governors under then-Chairman Alan Greenspan. His home purchase two years later may have occurred just before prices peaked on the Hill.

In an area of mostly brick row houses, some dating from the 19th century, Bernanke bought a new townhouse within Capitol Hill's historic district.

As Bernanke surveys the breadth of the housing slump, he won't have to venture far from home.

Real estate records show Bernanke's next-door neighbor's house sold in July 2007 for $880,000, 4.9 percent more than Bernanke's purchase three years earlier. A home four doors down and comparable in size and condition to Bernanke's has been on the market for five weeks at $899,000, after a failed attempt to sell for $988,000 in 2006.

That still leaves the homes of Bernanke and his neighbors worth about four times more than the median home price in the District of Columbia, as measured by S&P/Case-Shiller.

Agencies

(China Daily 03/21/2008 page17)

Today's Top News

Editor's picks

Most Viewed

Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
屏山县| 通许县| 简阳市| 双柏县| 子长县| 广汉市| 阳朔县| 莆田市| 额济纳旗| 正蓝旗| 桃园市| 腾冲县| 邹城市| 江西省| 凉山| 泸州市| 长汀县| 依兰县| 民丰县| 尉氏县| 历史| 蕉岭县| 兴和县| 阆中市| 黎城县| 饶平县| 东丽区| 云浮市| 股票| 舞钢市| 工布江达县| 中卫市| 扶余县| 桂阳县| 西贡区| 龙岩市| 黔江区| 康保县| 桐乡市| 来凤县| 玛曲县|