First Barbie, now Bernanke

The housing downturn has once again proven there is no stone unturned, no one above being impacted by this mess. (OK, well if you're not planning to sell for a decade or two, paid all cash for your house and bought in the '90s you might be safe.)

Bloomberg news digs up the scoop on the value of Federal Reserve Chairman Ben Bernanke's Capitol Hill home, which he reportedly bought in May 2004 for $839,000. Almost four years later, Bernanke's home "may not be worth any more," according to local agents and real estate records.

From Bloomberg:

Bernanke's timing wasn't the best -- values in the area peaked a year later -- and he is hardly alone among Americans living in an investment that's turned cold. His situation shows that the slump that began with distress in the subprime market is now engulfing wealthier neighborhoods, including some in the nation's capital.

So it's not as if Bernanke's home value is crashing and he needs to sell now to avoid financial ruin. It just goes to show that the effects of the slump are seeping into many areas that some said it wouldn't impact.

Now maybe Barbie won't feel as bad about declining doll house values.

Thanks for the interest rate cuts Benny -- we're pulling for your home's value to stay afloat!

All rights reserved. This article may not be used or reproduced in any manner whatsoever, in part or in whole, without written permission of Inman News. Use of this article without permission is a violation of federal copyright law.