In the News: White House Property Value Drops

The presidential pad dropped 23.6% in value over the last three years

The housing market slump has hit the Mecca of homes in America—the White House.

The 132-room mansion dropped nearly a quarter of its value, according to the real estate website Zillow.com. The home value of the presidential pad depreciated from $331.5 million to $253.1 million.

This 23.6% dip in value comes after the Obamas upgraded 1600 Pennsylvania Avenue to include an organic vegetable garden and swing set. By next spring, the White House plans to install solar panels.

What do you think is attributing to the decline in property value? Share your thoughts with Blackenterprise.com.

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