There Goes the Neighborhood
Maybe his presence brought down property values, maybe he got hit by the real estate bubble, or maybe he just overpaid. Whatever the case, London’s Guardian reports Osama bin Laden’s house isn’t worth as much as had been advertised:
After Sunday night’s dramatic raid by US Navy Seals, a senior Obama administration official told reporters that the property, an “extraordinarily unique compound” in an “affluent suburb,” was valued at around $1m.
But two property professionals in Abbottabad–a quiet, military-dominated town–said that much of that was incorrect. Based on the size of the plot and the house, which was built in 2005, and using recent property sales as a guide, they estimated that it would fetch no more than $250,000 on the current market.
Assuming bin Laden made the customary 20% down payment and took out a mortgage for $800,000 in 2005, he’s going to be underwater for a long time.
From the James Taranto/Wall Street Journal
… UNDERWATER FOR A LONG TIME!!! AAHAHAHAHAHAHAHA!
May 9th, 2011 at 11:49 AM
May 8th, 2011 at 8:38 AM
Happy Mother’s Day and Grandmother’s Day Roxy.
Well Done !
May 8th, 2011 at 7:21 AM
I like this post! Happy Mother’s Day Roxy!
May 8th, 2011 at 4:21 AM
P.S. Happy Mother’s Day Roxy.
May 7th, 2011 at 9:27 AM
The interior sure didn’t look like much from the clips we’ve seen. And what’s this about Bin Laden owning a property in FL?
May 7th, 2011 at 9:59 AM
Yea, I heard that too and I think I heard it was a son who owned it. But this media will never followup on that or the possible CIA agent that was outed in the picture of the situation room.
May 7th, 2011 at 9:19 AM
Shessh!!! If that’s worth even $250,000 they paid too much!!! Taratano does have a way with words, doesn’t he? Excellent post!
May 7th, 2011 at 9:57 AM
No kidding! It looks like a 3 story hovel to me – inside and out.
May 7th, 2011 at 8:35 AM
For this post, I AM PUSHING THE LIKE BUTTON! and I never “like” my own posts.
May 8th, 2011 at 4:21 AM
Your post Roxy are fabulous and I’m not just saying that because I like you.
Seriously you do great work and play an important role in righting the wrongs.
I expected to see something on the line of that which is in the United Arab Emirates. Instead, I got an instant flash back to the late 60’s and 70’s during the burn baby burn era.
Gosh, one could have found better looking places in the worst poverty-stricken ghettos in the United States.
OBL and family lived like a bunch of pigs.