Home Foreclosure News: How President Obama’s Home Has Been Affected by Foreclosure Crisis

It seens that even being the President doesn’t inoculate a homeowner against the foreclosure crisis.

According to the recent MSN.com article, Presidential homes hit by housing crash, the President’s home in Chicago, which he and wife Michelle purchase in 2005 for $1.65 million, has decreased in value by anywhere from 5% to 20% (real estate experts disagree on the exact amount).

That said, that’s still better than a lot of Chicagoans have fared. The foreclosure crisis  has brought prices in the Windy City down an average of 25% to 30% from peak levels.

And, they’re not the only ones.

The article goes on to assess the value of other Presidential digs, eg, the Cape Cod compound owned by the family of late President John F. Kennedy; Bill and Hillary Clinton’s home in Chappaqua, N.Y; Ronald Reagan’s home in Pacific Palisades, Los Angeles; etc.

View a dozen Presidential homes affected by the home foreclosure crisis on Forbes.com.

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Copyright © 2010 Yuwanda Black for Foreclosure Business News. Article may not be reprinted or reproduced in any manner without the express, written consent of the author.