Geithner not a luxury or cheap rent change.

<P> Keywords: U.S. economy U.S. housing market Geithner </ P> <P> dismal U.S. housing market, Treasury Secretary Timothy Geithner should know, because even his mansion also suffer! Geithner wants to sell his home in New York .the outskirts of a city mansion, despite repeated lower prices, already below the price he had bought, but still little interest, forcing him to sell had to abandon sublet. .</ P> <P> MSNBC.com reports, Geithner to Washington as the nation's most important economic helmsman, he decided in New York City suburb of Larchmont's a 5 room Tudor-mansion sold. .Geithner couples in 2004 to $ 1,602,000 purchase. .</ P> <P> the New York real estate agents, said Geithner sold off in February for luxury, the then out of the price of $ 1,635,000. .But after several weeks, the price fell to $ 1,575,000, or can not find a buyer, making the mansion last changed on May 21 rental monthly rent of $ 7,500 out. .</ P> <P> monthly rent of $ 7,500 even though it seems high, but in fact less than the monthly mortgage payment Geithner. .His two loans totaling $ 1,250,000, plus $ 27,000 per year in real estate taxes. .</ P> <P> U.S. housing market is like a roller coaster of shock, is caused by one of the main U.S. recession. .U.S. house prices in April is $ 170,200, lower than the same period last year more than 15%. .</ P> <P> Geithner mansion where Niuyue Wei County (Westchester County), including a senior New York City suburb of north. .According to real estate information service Westchester-Putnam Multiple Listing service, said the first quarter median price Niuyue Wei County $ 532,000, the lowest record since 2003. .</ P> <P> Although the U.S. housing market began to bottom out the current signs, but analysts expect the prices will take some time to stabilize, because the current oversupply of houses on the market. .</ P> <P> some homeowners are stuck waiting for house prices gradually rise, but there are intermediary industry that, like Timothy Geithner, and many homeowners can not sell the house to reduce costs, decided to abandon selling sublet, .to rent to make up part of the loss. .</ P>.