Best of the Web Today – May 6. 2011

James Taranto at the Wall Street Journal:

Maybe his presence brought down property values, maybe he got hit by the real estate bubble, or maybe he just overpaid. Whatever the case, London’s Guardian reports Osama bin Laden’s house isn’t worth as much as had been advertised:

After Sunday night’s dramatic raid by US Navy Seals, a senior Obama administration official told reporters that the property, an “extraordinarily unique compound” in an “affluent suburb,” was valued at around $1m.

But two property professionals in Abbottabad–a quiet, military-dominated town–said that much of that was incorrect. Based on the size of the plot and the house, which was built in 2005, and using recent property sales as a guide, they estimated that it would fetch no more than $250,000 on the current market.

Assuming bin Laden made the customary 20% down payment and took out a mortgage for $800,000 in 2005, he’s going to be underwater for a long time.

(snicker)

Advertisements

2 comments

  1. Good thing he’s gone. It was overdue.

    Tossing the carcass over the side of a boat, THAT was a masterstroke!

    1. I thought so, too – there’s lots of critters that shadow those ships who made proper use of the remains, I hope!

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s