Treasury Secretary Geithner Can’t Sell Home

Mr. Geithner is gaining real world experience of the housing bubble. In 2004, Mr. Geithner paid 1.6 million after a heated “bidding war” and has been unable to sell his home since being tapped by the Obama administration. He was asking for 1.6 million, but has now opted to rent his home for $7,500 a month.

Raymond Keating, from the Foundation for Economic Education, has an interesting article on the housing bubble if you are looking for some background information.

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