Former Colorado Speaker of the House Andrew Romanoff sold his house to finance his long-shot bid for the Democratic nomination for U.S. Senate. Even after the sale and the self-loan, though, sitting Sen. Michael Bennet has a massive cash advantage and a 10-point lead in the polls.
Financially, this is a terrible decision, but it does get Romanoff some fast cash and some national headlines.
Romanoff has proven more adept at getting national headlines than raising cash, so far. He was one of the candidates the Obama administration “bribed” into not doing what they wanted, and he also received a “stunning” pro forma endorsement from Bill Clinton.
Romanoff had some snappy lines for the Denver Post regarding the sale:
“I’d like to create a democracy where you don’t have to sell your house to win the U.S. Senate, but we’re not there yet,” he said. “I expect to win and repay the loan. I happen to believe Americans of modest means deserve representation, too.”
His house went for $360,000. I’m not sure where he’s living now.