WHITE HOUSE VALUE DROPS BY $15.5 MILLION

EVEN THE WHITE HOUSE ISN'T IMMUNE TO THE DECLINE IN THE NATIONAL HOUSING MARKET, THE FAMED AMERICAN PRESIDENTIAL MANSION IN WASHINGTON DC PLUMMETED IN VALUE BY $15.5 MILLION TO $292.5 MILLION OVER THE PAST YEAR, ACCORDING TO A NEW STUDY BY REAL ESTATE SITE ZILLOW. THIS MARKS THE SECOND YEAR IN A ROW THAT THE CLASSIC LANDMARK'S VALUE HAS DECLINED, MAKING FOR A TOTAL LOSS OF AN ESTIMATED $39.5 MILLION, MEANING IT WAS ONCE WORTH $332 MILLION. DESIGNED BY IRISH ARCHITECT JAMES HOBAN, BUILT IN 1792 AND MUCH IMPROVED AND EXPANDED SINCE, THE GATED RESIDENCE AT 1600 PENNSYLVANIA AVENUE NOW STANDS AT 55,000 SQUARE FEET AND SITS ON 18 LANDSCAPED ACRES. IT ALSO HAS 132 ROOMS INCLUDING 16 BEDROOMS, 35 BATHS, THREE KITCHENS, THREE ELEVATORS, 28 FIREPLACES AND AN UNDERGROUND BUNKER.