Is This Joe Biden’s Mansion? How President-Elect Purchased His House With Senator’s Salary – By Ernesto Soliven (IB Times) / Nov 16 2020
- Joe Biden bought his Greenville, Delaware mansion in 1970s
- His salary as a senator at that time was $44,600 a year
- Biden sold the mansion for $1.2 million
President-elect Joe Biden’s mansion is being questioned. Did he really purchase the house using only a senator’s salary?
The controversial property is the 10,000-square-foot mansion in Greenville, Delaware that Biden acquired for $185,000 in the 1970s, per Reuters. In an attempt to tarnish the reputation of Joe Biden, critics called him out, saying he could not possibly afford such a huge mansion at the time when he was still a senator.
The president-elect, however, sold the mansion in 1996 for $1.2 million. Technically, he was once its owner but fast forward to 2020, it should not be a political issue. In the ‘70s, a senator only earned $44,600 annually, compared to the present when a senator makes $174,000 per year. When adjusted to current inflation rate, the price tag of the house is equivalent to $895,014.87 and the 77-year-old made a profit when he sold it.
