Geithner Underwater, Will Rent Out New York Home

Timothy Geithner bought his home in Westchester County, New York for $1.650 million 5 years ago, and now cannot sell it for $1.575, so he is looking for a renter, at about $7,500 a month, which figures out to be about 80% of his mortgage and taxes.

Of course, I could be wrong, and it could be that Mr. Geithner is figuring on leaving Washington, DC sooner rather than later, and does not want to sell the house under those circumstances.

Certainly, if I were in his shoes, I might be concerned that my DC sojourn would be peripatetic.