Bushes buy a house in tony Dallas neighborhood

December 4, 2008

WASHINGTON – Moving day is less than seven weeks away for President George W. and Laura Bush and they have finally settled on a house in the upscale Dallas, Texas neighborhood of Preston Hollow.

The neighborhood is about a 2-hour, 20-minute drive from their 1,600-acre (648-hectare) ranch in Crawford, Texas (according to Google Maps) which they also plan to keep.

“The President and Mrs. Bush do not have occupancy of the home, and therefore, no additional details will be provided,” said Sally McDonough, a spokeswoman for the first lady. She declined to say whether the Bushes plan to take advantage of a drop in mortgage rates to buy the new digs.

The Dallas Morning News reported that the president’s personal accountant, as a trustee, had bought a home — valued at almost $2.08 million despite not officially being on the market — in the area on Oct. 3. He declined to tell the newspaper for whom he had bought the house (which has four bedrooms, 8,501 square feet (790 sq metres) of living space including servants’ quarters). 

The newspaper also said that a local blog reported that the house next door  — on the market for $1.6 million — was placed under contract last week but the buyer was not yet known.

And as much as Bush loves the Crawford ranch where he has built bike trails, he will likely be spending a good bit of time in Dallas to oversee his library, museum and an institute on freedom on the campus of Southern Methodist University.

Mrs. Bush on Wednesday was asked by reporters about what she was buying the president for Christmas and she replied that with the sour economy the money likely would be spent on the new home.

“We will be moving to Dallas in January and there might be a new house coming along. So I think that’s where we’ll spend our Christmas money,” she said.

Click here for more Reuters political coverage.

- Photo credit: Reuters/Jessica Rinaldi (A home up for sale last year in Dallas)

15 comments

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Well there goes the neighborhood! :P

I foresee the price of land in Preston Hollow dropping sharply once Bush & family move in.

Posted by doh | Report as abusive

The ecomony is so bad and the Bush’s have enough money to purchase another house, at the cost of 2.08 million. It must be nice to spend the millions he made from the oil companies, at our expense.

Posted by Paula | Report as abusive

Who is Mrs. Bush trying to fool? Are we to believe that they are hurting because of the economy? Are we to believe that their Christmas budget of $ 2.08 million leaves them no money to buy any other gifts? I do not feel bad for them? Maybe big oil can start a fund to help them out with their Christmas gifts.

Posted by Paul | Report as abusive

Lol as if the bushes need to worry about money. It’s a cute comment but Mrs. Bush is just pandering to the cameras. I’m sure George Jr. will not be forgotten in the Bush household at christmas

Posted by Martin | Report as abusive

I’m sure the neighbors will be thrilled to have Herbert Hoover living down the street.

Posted by Merrill Grinch | Report as abusive

At least they have the money to buy it… not like the other president who had “friends” buy the house for them.

Posted by Michael | Report as abusive

If I lived there,I would be getting a petition signed!

Posted by Robert Egan | Report as abusive

I think a little understanding of Bush’s predicament is needed by commenters here. Any president who sent troops to Afghanistan, not even considering Iraq, would have run up a large tab. And if they were Republican, they would also probably keep taxes low. So the deficit would rise, generating an economic boom as money is borrowed and spent. But the resulting tax revenue increase would then bring down the deficit, causing the opposite effect: a bust. Two year lag. 2008.

Hoover, my foot.

Posted by Bill | Report as abusive

What is wrong with just having a ranch? All of these foreclosures and everyday people trying to make ends meet week to week, and you have the audacity to claim you know what we are going through; yet you can’t be happy with one house. I’m embarrassed that you were ever our president. I didn’t vote for you either time. How about giving my 2 kids a college donation instead?

Posted by Susan | Report as abusive

Barbara should have taken George home to flip burgers 4 years ago.

Posted by Anubis | Report as abusive

If they can actually afford to buy a house, why shouldn’t they? For all we know, they could be buying the houes from someone that is facing a foreclosure instead. By doing this, Bush is holding up to what his message was with the economic stimulus checks: put money back into the enconomy, keep it moving.
Right now everyone wants to blame everything on President Bush, but it is unrealistic and asinine to think that the mess we are currently in was created in 8 years. This has been brewing since the 70′s, or longer. And for all of those that love to bash Bush, I will remind you that the congress has been in the control of the Democrates for the past two years. They also have a resonsiblity for what is going on right now.

Posted by Jordan | Report as abusive

I guess if they cashiered the stage prop — er, I mean the Crawford ranch — right after the presidency it would have been too obvious.

I’m still waiting for someone to explain to me how come this “ranch” doesn’t have any cattle. Doesn’t that make it a farm? Or, you know, a luxury vacation home?

Bike trails, you say? How butch.

Posted by jvill | Report as abusive

Bill:

1. No president, Republican or Democrat, has ever lowered taxes in a time of war. Bush was the first. He encouraged us to continue shopping, driving up the unsecured debt that has gotten this nation into so much trouble.

2. Afghanistan yes, Iraq no. The total estimated cost of both wars, including veterans benefits and lost productivity, is now $2 trillion – $3 trillion. About the same amount being estimated to bailout an economy managed by the Bush Administration for 8 years. Since we took our eyes off Afghanistan, which the WSJ today reported features a Taliban that has spread throughout the country and nearly encompassed Kabul, the wars will be even MORE expensive than they would have been if we’d stayed focused. It’s unbelievable and disturbing that you would try to excuse this series catastrophic mistakes so flippantly and claim any president would have done the same thing.

We won’t even get into how Bush was president during the first foreign terrorist attack on US soil since Pearl Harbor. If Gore had been president he would have been impeached.

3. The deficit will likely be $1 trillion – $1.5 trillion next year. By your logic, that portends a lending economic boom (even though the debt markets are frozen). Also, nice citation of unproven Republican theories of Voodoo Economics (even after 40 years of trying).

Hoover indeed.

Posted by jvill | Report as abusive

jvill,

Your lack of basic economic literacy is eclipsed by the fact that every statement you’ve made about war and taxes was obviously taken from some blog on DailyKos.

It is a FACT that every year since the Bush tax cuts took effect, US Treasury revenues have increased by an annual rate of over 15%!! Trickle down economics work. There are no two ways about it. Because you’re too intellectually lazy to acknowledge this doesn’t mean it’s not true. You’d have had more credibility if you had criticized Bush for signing nearly every spending bill that crossed his desk, most laden with democrat pork.

Check how many public buildings in WV are named for that former Klan Kleagle Robert Byrd, now one of your party’s leaders. Those naming rights came from taxpayer dollars, most likely from other states.

Posted by Matt | Report as abusive

People have different reasons why they change residences. In buying a house, there are many considerations to think of. In this situation, President Bush and his wife has changed priorities and they chose a house in another location in order to oversee their projects in the said university.
http://www.terraceiabay.com

Posted by TerraCeiaBay | Report as abusive