Housing Market Woes Hit Home for Geithner

Housing market troubles are getting personal for Tim Geithner, the AP reports. The Treasury secretary bought his five-bedroom suburban New York Tudor for $1.6 million in 2004; after moving to Washington, he tried to sell it for $1.635 million. The price later dropped to $1.575 million, but it still didn’t sell. In May he began renting it out for $7,500 a month—likely less than his mortgage payment.
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