Tuesday, March 31, 2009

That Crazy Kansas Market

Forget for a moment that Kate Sebelius didn't pay her taxes--who does!

What I'm mystified by is this: Sebelius writes, "In July of 2006, my husband and I sold our home for an amount less than the outstanding balance on our mortgage."

Wasn't July 2006 just about the height of the housing bubble? How could you sell a house then for less than the balance on your mortgage?

Nothing but the best and the brightest!

1 comment:

Crank said...

I signed a contract on my house in February 2006, put the old one on the market in early March, and sold by the end of May, and at least in Queens, the market was definitely dropping pretty quickly between February and May, and there was definitely awareness out there that the bubble was popping. I can't speak to Kansas; I'd say the market may have been slumping a bit by then as well, especially for high-end houses that governors live in, but then it's hard to see how the market was down so far by that point that her mortgage would be upside-down.

She should have called Tony Rezko.