Tim Geithner and Sheila Bair may not agree on what to do with Citi, but they’ve both got housing woes in common.
Geithner can’t sell his Larchmont, NY home and Bair, it turns out, is having trouble selling her house in Amherst Mass, even though it’s right across the street from Emily Dickinson’s house. (Do people not value culture anymore? Answer: Yes).
She’s even been aggressive on price.
WSJ: After listing the five-bedroom property in April, the couple cut the price to $745,000 less than three weeks later, then reduced it again before withdrawing the listing. Ms. Bair’s real-estate agent, Stephen Feldman, of Prudential Sawicki Real Estate, declined comment. An FDIC spokesman said Ms. Bair decided to remove the listing and wait for the market to improve on the advice of her real-estate agent. The family will continue to lease the house to its tenants. Ms. Bair and her family currently rent a house in Maryland.
Our question for Sheila Bair: Will you recuse yourself from any discussions involving banks and jumbo mortgages?