Get our free newsletter
Via the Georgetown Dish, it appears that former Treasury Secretary Henry Paulson finally unloaded his house near the National Cathedral for $3.25 million, which is a million less than he paid for it in 2006. The depreciation isn’t the funny part, though. It’s that he initially tried to list the place at $4.6 million—$300,000 more than what he paid at the height of the real estate boom—without substantial renovations to justify the increase. Prospective buyers must have laughed when they saw that price; in an area where houses typically sell within weeks, this one stayed on the market for eight months.
Meanwhile, another Bushie fared a little better—Karl Rove sold his place in June for only $120,000 less than he asked for it, which is a slightly less embarrassing drop.