In the last month alone the value dropped almost $4 million.
The White House is not just an American icon. It also could be called a symbol of the American housing market.
Because, like many of the country's houses, it's not worth what it was once.
The President's mansion at 1600 Pennsylvania Ave has 132 rooms, 16 bedrooms and 35 bathrooms on 18 acres in the heart of the nation's capital and was worth $331.5 million at the top of the housing boom, according to Zillow, the online real estate marketplace.
But the latest estimate puts the price tag at a mere $253.1 million. That's a 23.6% decline in value.
The biggest part of the problem is the general collapse of the real estate market, but the First Family might share some of the blame for their own poor decorating choices. First Lady Michelle Obama took complete charge of redecorating the White House when they first moved in, and has selected some unconventional decorating styles.
The painting on the left was a personal favorite of the First Lady's and was hung in the oval office, replacing the famous painting of George Washington by the famous American artist Gilbert Stuart.
President Obama himself selected over 40 Zulu war masks, and had them hung on various White House walls as decorations. While these are very popular in his native Kenya, they do not enhance the value of high priced housing in the DC area.
There were also several reported housebreaking accidents involving the Obama dog Bo. When Bo was a puppy there was considerable damage done to several White House carpets, that will probably need to be replaced.
Unfortunately, many priceless heirlooms were hauled off and donated to The Salvation Army, as Mrs. Obama continued changing decorations to maintain an African decor.
The chair on the left was specially imported from Kenya at a cost of over $25,000 to taxpayers. "It's the President's favorite chair, and he uses it at his desk in the Oval Office" Mrs. Obama told us.
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