How would you like the nation’s Treasury Secretary to be your landlord?
The AP reports that Tim Geithner still hasn’t hold his house near Larchmont, and that he’s been renting it out for about $7,000 a month (at a loss). Just like any other American that can’t dump their house, he’s already reduced the asking price since first putting it on the market, first at $1.635 million in February and then down to $1.575 million several weeks after that. Still, no biters.
As a matter of avoiding conflict of interest, we wonder if Tim Geithner excuses himself from the room everytime the subject of homebuying incentives or mortgage rates comes up.