Aug 20th, 2008 at 1:23 pm
The $4.66 million House
Like all good yuppies, I’m obsessed with real estate. And of course I also follow politics closely. Thus I’ve grown a bit obsessed with the fact that John McCain owns ten houses and want to learn more. Robert Greenwald’s four minute film on the subject is good stuff, but in at least one respect it raises more questions than it answers — how on earth did McCain manage to spend $4.66 million on a condo in Phoenix? Mike Tomasky is thinking along these lines as well and points to this listing for a brand new $4,199,900 Phoenix condo with three bedrooms and four baths. Check it out:
But still. Look at all the three bedroom condos you can buy in Manhattan for less than $4 million — in a much more expensive real estate market.
228 Responses to “The $4.66 million House”
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August 20th, 2008 at 1:31 pm
What is it with pool tables and luxury home display furniture? If your household income goes up over $150,000 a year are you required to develop an interest in nine-ball?
August 20th, 2008 at 1:34 pm
Two places in Coronado and one in La Jolla? What is the point of that?
August 20th, 2008 at 1:36 pm
Where else are you supposed to bang the help, gracchus? The bed where you sleep in cold silence with your estranged wife? Boner killer.
thesebastards.blogspot.com
August 20th, 2008 at 1:36 pm
Phoenix is a train-wreck and everyone knows it. Housing Doom has focused specifically on the Phoenix market. Phoenix is perhaps the greatest of the Ponzi schemes from the housing bubble. This is an area with no real economy outside of real-estate built up on the premise that “the retirees are coming! the retirees are coming!”
McCain should just write that condo off. He will lose at least 50% of that value when the market settles, if not more.
August 20th, 2008 at 1:37 pm
Matthew, while you may have a point, you also have been watching WAY too much porn.
August 20th, 2008 at 1:41 pm
Having sold luxury condos for a while in DC, I have no idea how or why a condo there today could command $1,000 a square foot, which is the pricing of the listing you linked to. That’s almost double expensive for DC, and is essentially what new construction in nice parts of Brooklyn costs. It seems insane for an extremely soft market in Phoenix. My guess is that this is one of the few real luxury buildings downtown in Phoenix and people are carried away…I’m wondering what the stuff is actually selling for.
Also, I wonder if McCain’s Phoenix “condo” is actually a single family home in a condo communicty…that’s huge in Arizona, and basically means that someone else takes care of everything outside your front door. But for all practical purposes, we’re talking house, not the apartments that most of us picture when we think condo.
August 20th, 2008 at 1:47 pm
That photo definitely looks like a set for a Sandee Westgate video.
August 20th, 2008 at 1:48 pm
Probably because there isn’t really a “downtown” Phoenix, there are very few high rises so if you want a penthouse to say you own a penthouse you don’t have many choices. When I was looking Phoenix a few years ago, 2BD luxury apartments at “downtown” with garage were under $1000/month.
August 20th, 2008 at 1:49 pm
Also, I wonder if McCain’s Phoenix “condo” is actually a single family home in a condo communicty…that’s huge in Arizona,
My understanding is their primary residence is two condos that they turned into a duplex.
The second condo in Coronado they had to get because the kids just love the beach! Cindy couldn’t get in the first place! Oh, kidz.
August 20th, 2008 at 1:49 pm
If your household income goes up over $150,000 a year are you required to develop an interest in nine-ball?
Well, honestly, if I do get a salary that high and can afford the space, I probably would buy a pool table.
August 20th, 2008 at 1:54 pm
Tyro, so basically the answer is “yes.” Good to know.
August 20th, 2008 at 1:56 pm
A few years ago there was a nice 3BR apartment for sale in Mayfair for under $5 million. Why on earth would you spend that much for a place in Phoenix, AZ?
August 20th, 2008 at 1:59 pm
Jeff, well, if you’re nouveau riche, the high price tag is its own point: you overpay to prove that you can.
August 20th, 2008 at 2:07 pm
Gorgeous house! Now I actually WANT to pay a new tax on my healthcare benefits in order to fund McCain’s $350,000 tax break to himself!
I know where the money is going, and it’s beautiful, baby!
.
August 20th, 2008 at 2:35 pm
Jeff, well, if you’re nouveau riche, the high price tag is its own point: you overpay to prove that you can.
That’s not exactly the kind of guy you’d want making decisions about the federal budget. Makes you wonder if wasteful spending in Iraq is a feature instead of a bug to him. You know, all part of shock and awe, not only can we bomb your country to pieces, we can spend the equivalent of its GDP in the process. I’m concerned that being married to an heiress has left him with the impression that money just appears out of nowhere, keep spending it and there will always be more.
August 20th, 2008 at 2:45 pm
What the heck do you do with four bathrooms? Is this in case the owner decides to serve chicken tartar?
August 20th, 2008 at 2:48 pm
John McCain - one of us!
Now that phoney Edwards, with his one huge mansion, that dude we can’t get behind!
August 20th, 2008 at 2:59 pm
On the other end of things, how did McCain find a place in La Jolla, CA for $1 million? Either it is far below the standards of their other places, or that home’s value is understated by 3 or 4 million.
Sure, one could find a condo or a home in La Jolla for a mil, but the McCains seem to be living in luxury places. My guess is that the La Jolla home is more like 4.5 million.
August 20th, 2008 at 3:04 pm
You know that, with so few high rises in downtown Phoenix, the place has to have great views.
August 20th, 2008 at 3:21 pm
What the heck do you do with four bathrooms? Is this in case the owner decides to serve chicken tartar?
I saw Jermaine Jackson on a music quiz a few months ago (Never Mind the Buzzcocks) say that he has 27 toilets in his house. Maybe McCain always wanted to be a member of the Jackson 5…
When I was looking Phoenix a few years ago, 2BD luxury apartments at “downtown” with garage were under $1000/month.
A 1BD not-luxury flat in London goes for twice that. I’m surprised the McCains don’t seem to have any houses outside the US. As has been pointed out, they mostly are within three pretty small areas. Why own houses so close together?
August 20th, 2008 at 3:51 pm
I wouldn’t be surprised if the differences were schools and taxes. If Phoenix has better schools they could afford to charge more, and if New York has higher taxes they would be forced to charge less. It might not explain all of the difference, but some at least.
August 20th, 2008 at 3:57 pm
Oh, and supply might be a factor. I’m sure it’s a lot easier to find a luxury condo in NY.
August 20th, 2008 at 4:22 pm
“You know that, with so few high rises in downtown Phoenix, the place has to have great views.”
I don’t think that can be true. No matter what the view, you’ll still be seeing Phoenix.
August 20th, 2008 at 4:36 pm
Anyone who is dropping $4M on a condo in NYC is going to be sending their kid to private school. Also, NYC property taxes aren’t that bad. Income is pretty nasty, but in either location you’ll be paying mortgage in post-tax dollars. Add in the fact that until recently NYC had nice fat Wall Street bonuses to help pay for these places and the $4M condo in Phoenix does look a little out of place. Even with 4k square feet.
August 20th, 2008 at 4:38 pm
The McCain condo you are talking about is at the top of a brand new, super fancy high rise complex on the most expensive corner in the city. His condo is actually two units combined into one near the top floor. It is next door to a Ritz Carlton. It is the prime real estate in the entire city. Not saying it is worth it for house #10…just some background.
It is at 24th street and Camelback in the Biltmore are for those familiar.
August 20th, 2008 at 4:57 pm
“Makes you wonder if wasteful spending in Iraq is a feature instead of a bug to him.”(@ ibid, #15):
Du-oh! The wasteful spending is a feature, not a bug, not just for McCain, but for the entire military-industrial complex, including all of its representatives in the Congress.
August 20th, 2008 at 5:20 pm
Fun fact: Did you know that McCain often doesn’t know where he is when he awakes? The horror.
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September 23rd, 2008 at 2:18 pm
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Better late than never,
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Half a loaf is better than no bread,
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eat one
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If the cap fits, wear it,
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End justifies the means,
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follow on,
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get beyond first base,
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I’ve just been staying at home not getting anything done. Pfft. Eh. I feel like a fog. I’ve pretty much been doing nothing.,
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These are all great comments and suggestions (and more are welcome). Thanks. I will follow up as soon as I can.,
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Like it or lump it,
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I’ve more or less been doing nothing , but oh well. Basically nothing seems worth thinking about, but such is life. I don’t care. I haven’t been up to much.,
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He that would eat the fruit, must climb the hill,
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All are not thieves that dogs bark at,
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come out clean,
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Better a dove on the plate than a woodgrouse in the mating place,
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Benjamin
September 23rd, 2008 at 7:57 pm
Washington - The federal official with the power to mobilize a massive federal response to Hurricane Katrina was Homeland Security Secretary Michael Chertoff, not the former FEMA chief who was relieved of his duties and resigned earlier this week, federal documents reviewed by Knight Ridder show.,
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First try, then trust ,
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Early bird gets the worm,
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After a storm comes fair weather, after sorrow comes joy,
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fill the bill,
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Good thongs don
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Do not dig a hole for somebody else; you yourself will fall into it,
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Every man has a fool in his sleeve,
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If one likes to sled - he has to like to drive the sledge,
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Do not dig a hole for somebody else; you yourself will fall into it,
September 23rd, 2008 at 10:44 pm
Washington - The federal official with the power to mobilize a massive federal response to Hurricane Katrina was Homeland Security Secretary Michael Chertoff, not the former FEMA chief who was relieved of his duties and resigned earlier this week, federal documents reviewed by Knight Ridder show.,
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friend in need is a friend indeed,
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If one tries to overhaul two rabbits he can catch no one,
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Do not trouble trouble till trouble troubles you,
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lead a cat and dog life ,
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Do not wash your dirty linen in public,
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FBI ,
September 24th, 2008 at 12:34 am
hold in word only,
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I can’t be bothered with anything. Pretty much nothing seems worth bothering with, but I don’t care. I just don’t have anything to say right now. Not much on my mind these days, but I guess it doesn’t bother me. My life’s been really bland these days, but whatever.,
September 24th, 2008 at 12:48 am
I’ve more or less been doing nothing to speak of. I just don’t have much to say these days, not that it matters. Basically not much noteworthy going on worth mentioning. So it goes.,
September 24th, 2008 at 12:53 am
Don
September 24th, 2008 at 1:00 am
follow suit,
September 24th, 2008 at 1:07 am
game over,
September 24th, 2008 at 1:13 am
Geese with geese, and women with women,
September 24th, 2008 at 1:19 am
get the cheese,
September 24th, 2008 at 1:24 am
I’ve more or less been doing nothing to speak of. I’ve just been hanging out waiting for something to happen, but it’s not important. Whatever,
September 24th, 2008 at 1:38 am
get a screw loose,
September 24th, 2008 at 1:51 am
He wears his heart on his sleeve,
September 24th, 2008 at 1:59 am
A man should not be struck when he is down,
September 24th, 2008 at 2:06 am
Friend at court is better than a penny in purse ,
September 24th, 2008 at 2:12 am
All are not cooks that walk with long knives,
September 24th, 2008 at 2:20 am
He who peeps through the hole may see what will vex him,
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between the devil and the deep blue sea,
September 24th, 2008 at 2:39 am
Get A Life,
September 24th, 2008 at 2:46 am
Don
September 24th, 2008 at 2:52 am
get beyond first base,
September 24th, 2008 at 3:07 am
As one make his bed, so he will sleep,
September 24th, 2008 at 3:14 am
It is too late to lock the stable door when the horse is stolen,
September 24th, 2008 at 3:21 am
I’ve just been letting everything happen without me lately, but oh well. I haven’t been up to much these days. Today was a complete loss. Shrug. More or less nothing seems important, but such is life.,
September 24th, 2008 at 3:37 am
follow on,
September 24th, 2008 at 3:42 am
A hungry man is an angry man,
September 24th, 2008 at 3:51 am
best is an enemy of good, The,
September 24th, 2008 at 4:04 am
A rich man’s joke is always funny,
September 24th, 2008 at 4:10 am
ear to the ground ,
September 24th, 2008 at 4:18 am
I haven’t been up to anything today. I’ve more or less been doing nothing to speak of. More or less not much notable going on today. That’s how it is.,
September 24th, 2008 at 4:25 am
As one make his bed, so he must lie on it,
September 24th, 2008 at 4:31 am
I’ve just been letting everything happen without me lately, but oh well. I haven’t been up to much these days. Today was a complete loss. Shrug. More or less nothing seems important, but such is life.,
September 24th, 2008 at 4:39 am
a dead cert ,
September 24th, 2008 at 4:46 am
Do not come in the stranger monastery with your own Charter,
September 24th, 2008 at 5:06 am
He wears his heart on his sleeve,
September 24th, 2008 at 5:12 am
All aren
September 24th, 2008 at 5:20 am
Don’t look a gift horse in the mouth,
September 24th, 2008 at 5:27 am
Don
September 24th, 2008 at 5:32 am
Actions speak louder than words,
September 24th, 2008 at 5:39 am
Get A Life,
September 24th, 2008 at 5:46 am
I just don’t have much to say. I haven’t gotten much done today. Eh. Maybe tomorrow. I can’t be bothered with anything recently, but I guess it doesn’t bother me.,
September 24th, 2008 at 5:52 am
It is impossible to break the butt end with a lash,
September 24th, 2008 at 5:58 am
from mouth to mouth,
September 24th, 2008 at 6:06 am
boggle theone’s time,
September 24th, 2008 at 6:13 am
I’ve more or less been doing nothing to speak of. I just don’t have much to say these days, not that it matters. Basically not much noteworthy going on worth mentioning. So it goes.,
September 24th, 2008 at 6:20 am
Easy come, easy go ,
September 24th, 2008 at 6:27 am
I haven’t been up to anything , not that it matters. Basically nothing seems important, but I guess it doesn’t bother me. Not much on my mind to speak of. Today was a loss, but maybe tomorrow.,
September 24th, 2008 at 6:33 am
a good few ,
September 24th, 2008 at 6:48 am
He laughs best who laughs last,
September 24th, 2008 at 6:53 am
Fine words butter no parsnips,
September 24th, 2008 at 7:03 am
every Jack has his Gill,
September 24th, 2008 at 7:10 am
A fine kettle of fish!,
September 24th, 2008 at 7:46 am
best is oftentimes the enemy of the good, The ,
September 24th, 2008 at 7:53 am
better than one’s word,
September 24th, 2008 at 7:58 am
a point of peculiar interest,
September 24th, 2008 at 8:06 am
for the sake of glory ,
September 24th, 2008 at 8:11 am
get one
September 24th, 2008 at 8:17 am
fit as a fiddle,
September 24th, 2008 at 8:24 am
like as chalk and cheese,
September 24th, 2008 at 8:30 am
First try, then trust ,
September 24th, 2008 at 8:36 am
Even the wart adds something to the body,
September 24th, 2008 at 8:44 am
Let a sleeping dog lie,
September 24th, 2008 at 8:50 am
get a pig in a poke ,
September 24th, 2008 at 8:57 am
A wolf won’t eat wolf,
September 24th, 2008 at 9:04 am
Do not dig a hole for somebody else; you yourself will fall into it,
September 24th, 2008 at 9:11 am
East or West, home is best,
September 24th, 2008 at 9:17 am
a good few ,
September 24th, 2008 at 9:25 am
Thank you very much. Very informative.,
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If you could know where you fall - you would spread some straw (there),
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fairweather friends,
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First try, then trust ,
September 24th, 2008 at 10:06 am
Early bird gets the worm,
September 24th, 2008 at 10:12 am
After death the doctor,
September 24th, 2008 at 10:19 am
A cat may look at the Queen,
September 24th, 2008 at 10:26 am
A good example is the best sermon,
September 24th, 2008 at 10:34 am
boggle theone’s time,
September 24th, 2008 at 10:40 am
Fine feathers make fine birds ,
September 24th, 2008 at 10:53 am
God doesn
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a sea of troubles ,
September 24th, 2008 at 11:07 am
cowl does not make the monk, The,
September 24th, 2008 at 11:20 am
fat cat,
September 24th, 2008 at 11:33 am
fill the bill,
September 24th, 2008 at 11:40 am
a dead cert ,
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As you make your bed, so you must lie on it,
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get a pig in a pie,
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fast talker ,
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