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Id ESLPod_0128_CN
Episode Id ESLPod 128
Episode Title Hiring Contractors
Title The Value of the White House
Text

When the "economy" (how much money and things of value a country has) is poor, people "lament" (feel very sad about) the "drop" (decrease) in home prices. When the economy "falters" (loses its strength), the "housing market" (buying and selling of homes) is one of the main areas that "take a hit" (is affected in a negative way).

Although the "value" (what something is worth) of your home may have dropped during the poor economic times in the mid to late 2000's, did it drop by $253 million?

In the years 2009 to 2012, the value of the "White House," where the President of the United States and his or her family lives, dropped over 23% in value. Of course no one plans to put the White House "on the market" (offered for sale) at that time, but it was a sign of the decline in the "real estate" (buying of land, buildings, and homes) market that "plagued" (cause trouble for) the "recession" (period of economic problems) during this period.

The White House is a 132-room "mansion" (large, fancy house), with 16 bedrooms and 35 bathrooms on 18 "acres" (units of land) in the middle of the country's "capital" (most important governmental city). It is located at 1600 Pennsylvania Avenue NW in Washington, D.C. and it was built between 1792 and 1800. It has been the home of every U.S. president since John Adams, the second president from 1797 to 1801.

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