Barack Obama's Sweetheart Homeowners Deal

Will Barack Obama Give American Homeowners The Same Sweetheart Deal That His Millionaire Friend Gave Him?


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Yesterday, Obama Participated In A Discussion On Homeownership:

2:30 PM: "Barack Obama Participates In A Discussion On Protecting Homeownership In North Las Vegas." (Mark Halperin, Time's "The Page" Blog, thepage.time.com, 5/27/08)

Homeowners Are Facing Difficult Times:

Single-Family Home Prices Declined A Record 14.1 Percent In The First Quarter From The Previous Year. "Prices of single-family homes declined a record 14.1 percent in the first quarter from a year earlier, marking a pace five times faster than the last housing recession, according to the Standard & Poor's/Case Shiller national home price index reported on Tuesday." ("New-Home Sales Rose, But Prices Fell," Reuters, 5/27/08)

FLASHBACK: Most Americans Would Love To Have The Same Sweetheart Deal With A Millionaire Friend That Obama Enjoyed:

Obama Paid $300,000 Less Than The Asking Price For His Mansion, While Tony Rezko's Wife Paid Full Price For A Vacant Lot Next Door On The Very Same Day. "Two years ago, Obama bought a mansion on the South Side, in the Kenwood neighborhood, from a doctor. On the same day, [Antoin 'Tony'] Rezko's wife, Rita Rezko, bought the vacant lot next door from the same seller. The doctor had listed the properties for sale together. He sold the house to Obama for $300,000 below the asking price. The doctor got his asking price on the lot from Rezko's wife." (Tim Novak, "Obama And His Rezko Ties," Chicago Sun-Times, 4/23/07)

The Seller Of Obama's Home "Wanted To Sell Both Properties At The Same Time." "On the same day Obama closed on his house, Rezko's wife bought the adjacent empty lot, meeting the condition of the seller who wanted to sell both properties at the same time." (Brian Ross and Rhonda Schwartz, "The Rezko Connection," ABC News' "The Blotter" Blog, abcnews.go.com, 1/10/08)

Obama Later Purchased A Portion Of Rezko's Land For $104,500; It Was Valued At $40,500. "Later, the Obamas bought a 10-foot-by-150-foot piece of the lot for $104,500. An appraisal put the value of the strip at $40,500, a spokesman said, but Obama considered it fair to pay one-sixth of the original price for one-sixth of the lot." (Peter Slevin, "Obama Says He Regrets Land Deal With Fundraiser," The Washington Post, 12/17/06)

Obama Called His Purchase "A Boneheaded Move" Because Rezko "Was Already Under A Cloud Of Concern." "'I am the first one to acknowledge that it was a boneheaded move for me to purchase this 10-foot strip from Rezko, given that he was already under a cloud of concern,' Obama said. 'I will also acknowledge that from his perspective, he no doubt believed that by buying the piece of property next to me that he would, if not be doing me a favor, it would help strengthen our relationship.'" (Rick Pearson, "Obama Believes Himself A 'Viable Candidate' For Presidency," Chicago Tribune, 12/14/06)

NOTE: Jurors In Rezko's Federal Corruption Trial Resume Deliberations Today And May Soon Deliver A Verdict. "The jury deliberating political fundraiser Antoin 'Tony' Rezko's fate is due back in court after the long weekend. Jurors began their deliberations in the federal corruption trial two weeks ago after more than nine weeks of testimony and marathon oral arguments." ("Jury To Resume Deliberations In Rezko Corruption Trial," The Associated Press, 5/27/08)



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