What Recession?

USPS Buys $1.2 Million Home

John Thain would be proud. Although it's undergoing a financial crisis, the U.S. Postal Service purchased a $1.2 million home in South Carolina from one of its employees to help him relocate in February, CNN reports. The sale comes on the cusp of a change in regulation that set $1 million as the Post Office cap on such purchases. A spokesman for the Post Office said the organization planned to resell the house, as is typical of such relocations. "It's not like we threw away a million dollars," the spokesman said. "We are hoping it's going to go for the appraised value." After all, it's not like the housing market is depressed.