# Joe Biden: Net Worth = $150,000

**URL:** <https://boards.straightdope.com/t/joe-biden-net-worth-150-000/461592>\
**Category:** Miscellaneous and Personal Stuff I Must Share\
**Created:** [August 28, 2008, 7:21pm UTC](https://boards.straightdope.com/t/joe-biden-net-worth-150-000/461592 "2008-08-28T19:21:40Z")\
**Posts on this page:** 3\
**Page:** 4

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**Author:** ![lalenin](https://avatars.discourse-cdn.com/v4/letter/l/3da27b/32.png) [@lalenin](https://boards.straightdope.com/u/lalenin)\
**Post date:** [September 8, 2008, 6:52pm UTC](https://boards.straightdope.com/t/joe-biden-net-worth-150-000/461592/61 "2008-09-08T18:52:42Z")

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> [@Tom\_Tildrum](#):
>
> According to a Delaware newspaper [article](http://www.delawareonline.com/apps/pbcs.dll/article?AID=/20080906/NEWS02/809060343/1007), the net worth figures cited above do exclude real estate holdings. The article reports that Biden owns a $2.5 million house, with a $700K mortgage.
> 
> The article suggests that both the sale of his previous home (to an executive of MBNA, a credit-card company) and the purchase of his current home (from a real-estate developer) were on unusually favorable financial terms. These charges, which are just circumstantial, have surfaced in past senatorial elections and apparently haven’t gotten any traction.

It seems that a mortgage that high would take a huge chunk out of his salary, unless he gets an excellent deal in mortgage rates, insurance, and property taxes.

Why yes, I have been looking into buying a house.

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**Author:** ![What\_Exit](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/what_exit/32/10652_2.png) [@What\_Exit](https://boards.straightdope.com/u/What_Exit)\
**Post date:** [September 8, 2008, 7:10pm UTC](https://boards.straightdope.com/t/joe-biden-net-worth-150-000/461592/62 "2008-09-08T19:10:09Z")

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> [@lalenin](#):
>
> It seems that a mortgage that high would take a huge chunk out of his salary, unless he gets an excellent deal in mortgage rates, insurance, and property taxes.
> 
> Why yes, I have been looking into buying a house.

As a benchmark, let’s say a 30 year at 6.25%

700,000 would have a $4,312 per month mortgage or 51,744 per year + taxes. Let’s guess 10K per year for Virginia. So it is a big part of his take home pay but still leave a good chunk left over plus his wife’s salary.

BTW: If his rate is only 5.25 than the payments are only $3,871 per month or $46,452 per year

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**Author:** ![Oy](https://avatars.discourse-cdn.com/v4/letter/o/bc8723/32.png) [@Oy](https://boards.straightdope.com/u/Oy)\
**Post date:** [September 8, 2008, 7:11pm UTC](https://boards.straightdope.com/t/joe-biden-net-worth-150-000/461592/63 "2008-09-08T19:11:24Z")

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> [@What\_Exit](#):
>
> That’s fine, Real Estate and Stock appreciating in value is the typical way for a senior of retirement age to have accumulated some value or wealth. I know it is my plan. It is not the money I put into my 401k that will make my retirement easy, but the appreciation of that money that will.
> 
> This is no knock on him. I feel better that he does have a house with some real value above its mortgage.
> 
> Jim

Let’s hope for his sake the market holds up for that type of house. I wonder how much value it has lost thus far, if any.

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