U.S. Treasury Secretary Timothy Geithner is in the same boat as many Americans: He can’t sell his five-bedroom home.

When Geithner moved to Washington from Long Island, N.Y., to be the nation’s top economic official, he and his wife Carole put their home on the market for $1.635 million. According to public records, the couple paid $1.602 million for the home in 2004.

When the house didn’t sell quickly, the Geithners dropped the price to $1.575 million.

In May, they rented the property for $7,500 a month.

The Associated Press estimated that Geithner is likely to be hurting on the deal since he has two mortgages worth $1.25 million, plus $27,000 in annual property taxes.

Source: The New York Daily News, Owen Moritz (06/03/2009)