Do you wonder if the White House is affected by the ups and downs in real estate?
The White House is not even immune to the nationwide housing sprawl – the famous presidential mansion in Washington, D.C. tumbled by the value of $15.5 million to $292.5 million over the past year, according to the study conducted by the real estate site Zillow.
This marks the second year in a row that the landmark’s value has dropped, making for a total loss of $39.5 million since 2008 that means it was once worth $332 million. The Irish architect, James Hoban, designed the White House. It was built in 1792 and much improved and expanded since.
The gated residence at 1600 Pennsylvania Avenue now stands at 55,000 square feet and sits on 18 landscaped acres. It also has 132 rooms including 16 bedrooms, 35 bathrooms, three kitchens, three elevators, 28 fireplaces and an underground bunker.