Phillip's Blog

If your home lost value last year, you were in good company. 

The estimated value of the White House has dropped 5.1 percent—from $308 million to $292.5 million—in the last year, according to real estate Web site Zillow. Homes across the United States declined in value by about 5 percent, so the 132-room mansion is following the national trend.

The 5.1 percent decrease in the value of the White House is an improvement over its 7.2 percent decrease in 2008; and the nationwide 5 percent drop is a major improvement over the 11.9 percent average decrease in 2008. The White House, designed by an Irish architect and built in 1792, totals 55,000 square feet and sits on 18 acres.

Good thing the President isn't contemplating a cash out refinance, eh?