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McCain’s Housing Crisis

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I haven’t developed any strong feelings about Obama’s VP choice, but I sort of like this guy’s style.

It would have been better if he had pointed out McCain’s idea of a housing crisis is not being able to remember how many houses your Sugar Mama has bought for you.

Update: “At least four” apparently means “at least ten.” But who’s counting? (Info courtesy AmericansUnitedForChange.org)

“Of those 80 million homeowners, only 55 million have a mortgage at all, and 51 million are doing what is necessary –working a second job, skipping a vacation, and managing their budgets — to make their payments on time. That leaves us with a puzzling situation: how could 4 million mortgages cause this much trouble for us all?
–John McCain [Economic Speech in Santa Ana, CA, 3/25/08]

Ten Homes = $13,823,269

John & Cindy McCain Own At Least Ten Houses In Arizona, California, and Virginia Worth an Estimated $13,823,269. John and Cindy McCain own a plethora of houses spread throughout the United States, including: two beachfront condos in Coronado, California, condo in La Jolla, California, a two-unit condominium complex in Phoenix, Arizona, three ranch houses located outside of Sedona, Arizona, a high-rise condo in Arlington, Virginia, a rental loft, and, according to GQ, a loft they bought for their daughter, Meghan. The value of their houses is an estimated $13,823,269. [San Diego County Property Records; Maricopa County Property Records; Yavapai County Property Records; Arlington County Property Records; GQ, 3/18/08; McCain 2008 Senate Financial Disclosure Report]

1. 1n 2006, McCains Purchased Two Condominiums in Phoenix For $4,666,814. According to property records from Maricopa County, Arizona, the McCains spent $4,666,814 Condominium in Phoenix, AZ in 2006. Officially, the sale was made to The Cindy Hensley McCain Family Trust on October 18, 2006. (2211 E Camelback Rd., Units 1105& 1106, 85016) [Maricopa County Property Records]

2. The McCains Own A $2,705,040 Beachfront Condominium on a Small Island Outside of San Diego. According to property records from San Diego County, California the McCains own a $2,705,040 condominium in Coronado, California. Coronado boasts the second best beach in the country, according to the Travel Channel. The condominium is officially the property of Dream Catcher Family. (1710 Avenida Del Mundo, Unit #802, 92118) [San Diego County Property Records; City of Coronado website, accessed 3/31/08, emphasis added]

3. In February 2008, The McCains Bought Another $2.1 Million Condominium In Coronado. According to property records from San Diego County, California the McCains bought another $2.1 million condominium in Coronado, California. Records show that the sale was completed on February 27, 2008. The condominium is officially the property of Dream Catcher Family. (1710 Avenida Del Mundo, Unit #204, 92118) [San Diego County Property Records]

The McCains Own Three “Hidden Valley Ranches” Worth $1,103,615 in 2007. According to property records from Yavapai County, Arizona, the McCains own three ranch houses worth a combined $1,103,615:

4. $405,757 – 11455 E Hidden Valley Ranch Rd
5. $369,929 – 11445 E Hidden Valley Ranch Rd
6. $327,929 –11415 E Hidden Valley Ranch Rd

The first two ranch properties are held by the Cindy Hensley McCain Family Trust, while the third is held by Sedona Hidden Valley Limited Partnership. According to the Arizona Republic, the three houses include, “A main house, guest house and caretakers’ quarters [and] total more than 4,800 square feet.” [Yavapai County Property Records; 2007 Executive Branch Personnel Public Financial Disclosure; Arizona Republic, 8/12/00]

· McCain Has Said There Are Six Houses On His Lot. According to CNN, “McCain said the valley was settled by Mormons and that the Hidden Valley Ranch got its name from the horseshoe shape of the creek that runs through the property. He said he built the first house on his property 24 years ago and now there are six houses on his lot.” [CNN, 3/3/08, emphasis added]

7. McCains Own A $1 Million Condominium In La Jolla, California. According to John McCain’s Executive Branch Personnel Public Financial Disclosure, the McCains own a condominium in La Jolla, California valued at over $1 million. The La Jolla property is held in the Hensley Survivors Trust. (8263 Camino Del Oro #379, 92037) [2007 Executive Branch Personnel Public Financial Disclosure ; San Diego County Property Records]

8. The McCains Own A $847,800 High-Rise Condominium in Arlington, Virginia. According to property records from Arlington County, Virginia, the McCains own a $847,800 High-Rise Condominium in Arlington, Virginia. The condominium is officially the property of the Cindy Hensley McCain Family Trust. (1300 Crystal Drive #1702S, 22202) [Arlington County Property Records]

9. McCains Bought Their Daughter A $700,000 Loft When She Graduated From College. According to property records from Maricopa County Arizona, the McCains purchased a $700,000 Phoenix Loft in May of 2007. Wild River LLC bought the loft on May 24, 2007. (4326 N 25th St., Unit 2, Phoenix, AZ 85016) [Maricopa County Property Records]

10. The McCains Own A Rental Loft In Phoenix, Arizona. According to property records from Maricopa County Arizona, the McCains purchased a high-class $700,000 Phoenix Loft in June of 2007. The loft is owned by Wild River LLC, and is listed as rental property on McCain’s 2008 Senate Financial Disclosure Report. (4326 N 25th St, Unit 102, Phoenix, AZ, 85016) [Maricopa County Property Records, McCain 2008 Senate Financial Disclosure Report]

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