EXCLUSIVE: Joe Biden sold a house for $1.2 million in 1996 and nearly three decades later it's still only worth $1.65 million - Did he get paid over the odds by a donor?
Biden bought the 10,000 sq ft mansion for $185,000 in 1974
He sold it for over six times as much in 1996 to a donor
The buyer's company also employed Hunter Biden
By Nick Allen For Dailymail.com
Published: 11:54 EDT, 29 October 2023 | Updated: 12:15 EDT, 29 October 2023
Joe Biden sold a house to a supporter for $1.2 million in 1996 - but it is only worth an estimated $1.65 million 27 years later, DailyMail.com can reveal.
The current valuation raised questions over whether Biden received an inflated price for the property from a donor nearly three decades ago.
It was purchased by an executive for a credit card company that, in the same year, also hired Biden's son Hunter and then paid him for years.
Biden bought the 10,000 square-foot mansion in Greenville, Delaware for $185,000 in 1974.
At the time he had recently become a senator on a salary of $42,500.
He went on to sell the house for $1.2 million - more than six times what he paid for it - in 1996.
Joe Biden sold a house to a supporter for $1.2 million in 1996 - but it is only worth an estimated $1.65 million 27 years later, DailyMail.com can reveal
However, according to property website Redfin, it is currently only worth $1.6 million in 2023. Zillow has it currently valued at $2 million.
Both Redin and Zillow have an average error rate in valuations of only around 7 per cent.
Since 1996 the Delaware housing market has nearly tripled, according to data from the U.S. Federal Housing Finance Agency.
That would indicate, if the house was worth $1.2 million in 1996, it should be well over $3 million now.
more
https://www.dailymail.co.uk/news/article-12681367/Joe-Biden-Hunter-house-million-money-delaware.html
