Wednesday, March 29, 2006

More on Ryun's sweet deal

Using data from the US Government, we find that, given what was happening in the DC housing market, a house bought for $429,000 in Q1 of 1999 would have appreciated to about $530,000 by Q4 of 2000. That matches the intuition of DC area assessors.

By that standard, the house could have been worth as much as $1.2 million by the end of 2005. The DC assessor's office tallied it as worth about $920,000 for 2007 tax purposes.

I'm sure a lot of people in the 2nd Congressional District wish they had doubled their investments since 1999.

A house in Topeka bought at $429,000 when Ryun's house was sold for the same amount would be worth about $581,000 at the end of 2005, based on the same government data.

Kansas Democratic Party Executive Director Mike Gaughan said of Ryun's sweetheart deal with the Abramoff and Delay connected previous owner "It’s been said that you can judge a person by the company they keep, and this shows what kind of company Jim Ryun keeps in Washington.”

Ryun's office has not returned requests for comment.