Washington Nationals owner Ted Lerner could buy all 7,418 homes in Kensington, if he wanted to.
Real estate website Redfin on Thursday released a report in which it took billionaires on Forbes’ recent list and matched them up with entire towns and cities they could buy with their wealth. The completely hypothetical scenarios seem to be a way to show how much $1 billion is (hint, it’s a lot) and the real estate values of places around the country.
In Redfin’s fictional real estate investment, 30 billionaires in the report — with a combined personal wealth of $582 billion — could buy up 6 percent of the total U.S. home equity.
In our area, Redfin determined that the 34,061 households in Bethesda are worth a combined $32,603,073,897, which would match up with the personal wealth of former New York City Mayor Michael Bloomberg.
Amazon.com founder and Washington Post owner Jeff Bezos could afford to buy up the 83,578 households of Silver Spring with his $27 billion.
Redfin calculated the value of all single-family homes, condos and townhomes in each town or city by taking all MLS sales between April 1, 2013 and April 1, 2014. Redfin than used those sales “as a representative sample of all homes in a city,” so if 10 percent of homes sold for $1 billion, Redfin estimated the combined value of all home sin that city to be $10 billion.
Redfin estimated the nearly 7,500 homes of Kensington would run you $4.2 billion, which is Lerner’s net worth. We think the baseball owner and real estate magnate is fine with his home in nearby Chevy Chase.
Photo via Wikipedian1234
