Mitt Romney’s political career is built on the idea that he can manage money, cut budgets, and stretch dollars. He was originally the CEO of Bains Capital Management before he took the job of trying to save the 2002 Winter Olympics in Salt Lake City–and he succeeded in making those Olympics a success. He was elected Governor of Massachussetts in 2002 and, more recently, ran for President in 2008. Both campaigns centered around the idea that because Romney was a businessman, a millionaire, and the savior of the Olympics he could save the government from financial failure. However, Romney appears to have made the same mistakes regarding housing as everyone else in the market. Zillow.com now lists two of his massive mansions, collectively valued at roughly $10 million.

For his part, Romney’s spokesman says they are simply selling the houses because with all of the children moved out they simply have too much extra space. However, this deserves some serious speculation. Why would Romney choose to sell two massive mansions in a rock-bottom real estate market, it is the exact wrong time to be unloading massive real estate holdings. Either way, Romney either has made, or is making, a serious financial mistake regarding housing. Perhaps the American voter was right to pass him over?

"Housing Crash? What Housing Crash?"

–Nock the Blogger