REPORT: Biden May Have Been Overpaid for Home

The Daily Mail just published a report on a home that was sold by Joe Biden in 1996.

This would not normally be anything that would get our attention. That is until you look at the cost of the home then, and what it is currently being valued at.

What makes it even more shady is the person who bought the home was a Biden donor.

The Sale

In 1974, Joe Biden bought a home for $185,000 in Delaware, which is perfectly reasonable on a $42,500 salary he was making at the time as a Senator.

Biden flipped the House in 1996 for a rather shocking $1.2 million, a 649% increase in what he paid for the home.

The home was purchased by the vice chairman of credit-card company MBNA, at the time the largest employer in Delaware.

The buyer of the home had donated the maximum at the time, $2,000, to Joe Biden’s campaign, and employees of the firm had collectively donated $62,850 to his campaign.

Hunter Biden was also hired by this company as a consultant from 2001 to 2005.

The home, all things being equal, was realistically worth about $700,000 in 1996, so the buyer appears to have grossly overpaid Biden for the home.

The current valuation of the property is $1.65 million, so they want us to believe the home only went up in value by $450,000 in almost 20 years.

Housing data would suggest that a home bought in 1996 for that price should now be worth about $3 million, but as you can see, Biden’s former home is nowhere near that.

One more little kicker for this story about corrupt Joe Biden.

At the time that Biden’s home was up for sale, there were two other homes up for $1 million in the same area, but neither of them received the asking price, with both selling for about $800,000 which was much closer to the expected valuation of Biden’s property.

So, it looks like the Daily Mail figured out where Joe Biden got his initial stake to be able to afford his current home, which is valued at $1.5 million, at least until all that Hunter money started to roll in.

Just as I have always said, Joe Biden has been corrupt from the very first day he took office.