It's not just the Obamas that are moving into swanky mansions across Washington D.C.. This last weekend saw two $12-million-plus homes sold in the D.C. area with realtors noting "Trump's bringing people from outside a local market…and they’re coming from a much more expensive market."
Treasury Secretary Steven Mnuchin is the buyer who shelled out $12.6 million for a nine-bedroom home overlooking Rock Creek Park.
As The Washington Business Journal's Sara Gilmore reports, this is just the latest in the string of multimillion dollar home sales fueled by Trump administration officials.
Mnuchin, a former Goldman Sachs official, bought the house Feb. 14, according to real estate sources. Public records list the buyer as Rock Creek Drive Revocable Trust. Washingtonian reported in January that Mnuchin had a home under contract but the exact location wasn't known.
The sale was followed three days later by the $12 million sale of a home at 9641 Georgetown Pike in Great Falls.
One sale at that level is rare for D.C. in any month, let alone two.
“Trump is certainly an outsider and he’s bringing people from outside a local market,” said Michael Rankin with Sotheby’s International Realty in D.C., “and they’re coming from a much more expensive market.”
via http://ift.tt/2mxpUi6 Tyler Durden