One aspect of the housing market that seems to be holding true is that no one is left untouched by its decline, and that includes the rich and powerful. First
One aspect of the housing market that seems to be holding true is that no one is left untouched by its decline, and that includes the rich and powerful. First came word last week that even Treasury Secretary Timothy Geithner can’t find a buyer for his $1.6 million tudor in Westchester, New York, despite cutting the price repeatedly, and he has decided to rent it out instead. Now The Wall Street Journal reports that former Miami Dolphins star quarterback Dan Marino can’t unload his Florida mansion, either.
Unlike the average seller, however, Marino can throw in a few sweeteners. Like a $1.5 million worth of designer furniture and a signed football.
The former Miami Dolphin first listed the house—about 25 miles west of Fort Lauderdale—three years ago and twice cut the price. Now, Mr. Marino, 47 years old, and his wife, Claire, are asking $13.5 million for the 15,000-square-foot Tuscan home on four acres. They built it in 1998 and among other things put in a new master suite and marble showers. The home has 10 bedrooms, 12 bathrooms and two powder rooms. The property includes two guest houses, a pool, a putting green, a 5,000-bottle wine cellar and a pond stocked with fresh bass.
With three kids in college and a fourth graduating from high school soon, “we’re looking to downsize a little bit,” Mr. Marino says. The former footballer, who retired in 2000, first put the home on the market in 2006 for $15.9 million. Now, the home is being offered fully furnished, says listing agent Giselle Bonetti of One Sotheby’s Realty, which is marketing the property with Quintessentially Estates.
Mr. Marino adds, “I’ll leave one football, how’s that?”
Actually, the fact that famous people can’t sell high-end properties is more than just celebrity gossip. It actually represents a bigger problem in the housing market, which is a lack of move-up buyers — people who already own houses aren’t selling theirs and moving up to bigger and more expensive homes. As Calculated Risk has argued, this will likely clog up the housing market for some time, leading to a sluggish recovery.
That’s something even Dan Marino can’t get around.
EPA Administrator Addresses Concerns About Oil Spill Waste Management
At a hearing of the national oil spill commission today, Environmental Protection Agency Administrator Lisa Jackson addressed concerns about waste disposal from
EPA administrator defends allowing Florida to write its own water pollution rules
The EPA seal (Pic via sentryjournal.com) The Environmental Protection Agency has come under fire for its decision to allow the state of Florida to write its own water pollution rules (known as “numeric nutrient criteria”). EPA Regional Administrator Gwendolyn Keyes Fleming is now firing back, writing that the Agency commends the state Department of Environmental Protection for its draft of a proposed standard. A host of environmental groups filed suit in 2008, seeking to compel the EPA to implement a strict set of water pollution standards in Florida, arguing that the state was in violation of the Clean Water Act.
EPA administrator says federal nutrient criteria is a ‘myth’
In testimony given late last week, EPA Administrator Lisa Jackson said that false accusations about her agency’s numeric nutrient criteria to govern Florida waterways are proving to be a detriment to their implementation. # Testifying before the House Agriculture Committee, Jackson said her agency’s work was often “mischaracterized” and addressed several myths surrounding its work
E-Verify Mandate Begins Today
The Obama administration today begins implementation of a new mandate to require all federal contractors to check the legal status of their employees to confirm
EPA administrator fires back at critics in op-ed
EPA Administrator Lisa Jackson (Pic by USACEpublicaffairs, via Flickr) EPA Administrator Lisa Jackson penned a new op-ed for the Los Angeles Times , criticizing House Republicans desperately seeking to undermine the authority of the agency they have dubbed a “job killer.” Arguing that the environment affects red states and blue states alike, Jackson writes that “it is time for House Republicans to stop politicizing our air and water.” As head of the Environmental Protection Agency, Jackson has faced harsh criticism from House Republicans and GOP presidential candidates who say the agency’s regulations are an undue burden on businesses that have to cut jobs simply to comply with clean water and air rules. Presidential hopeful Michele Bachmann has pledged to end the EPA if she takes office. “Since the beginning of this year, Republicans in the House have averaged roughly a vote every day the chamber has been in session to undermine the Environmental Protection Agency and our nation’s environmental laws,” writes Jackson.
EPA and California Near Deal on Fuel Efficiency Standards
Two weeks ago, the Obama administration raised fuel efficiency standards by an average of two miles per gallon -- a modest change that disappointed some
EPA announces hold on nutrient standards if Florida can come up with own criteria
The EPA announced today that it is now prepared to withdraw a portion of its proposed numeric nutrient criteria (a set of standards governing water pollution in inland waters) and delay the portion related to estuarine waters, to allow the state Department of Environmental Protection to develop its own criteria. # From a statement released by the EPA earlier today: # EPA recognizes that states have the primary role in establishing and implementing water quality standards for their waters. Therefore, EPA is prepared to withdraw the federal inland standards and delay the estuarine standards if FDEP adopts, and EPA approves, their own protective and scientifically sound numeric standards
EPA biologist says fracking may be partly to blame for West Virginia fish kill
New documents obtained by an environmental news service show that an EPA analyst believes that wastewater from fracking may be partly responsible for a fish kill in a West Virginia river. Scientific American reports : U.S
EPA Chief Overruled Calif. Waiver, Too
The Washington Post reported in March that EPA Administrator Stephen Johnson was overruled by the White House in setting an ozone standard. Now, documents