Mitt Romney spent the first five years of his life in this 5,500-square-foot home in the upscale Detroit Palmer Woods neighborhood before moving to Detroit's Bloomfield Hills suburb. Although Detroit real estate has been hard hit in the past few years, Palmer Woods real estate remained steady as a high-end neighborhood. Even an upscale location couldn't save Romney's childhood home from foreclosure or the wrecking ball, though. After falling into disrepair in 2009, the house was one of 3,000 Detroit homes razed in the city's renewal plan.
According to property records, Romney and his family bought the seven-bedroom, 6.5-bath home in Belmont in 1989 -- five years after Romney founded investment firm Bain Capital. The Romneys' home sold for $3.5 million in 2009. That's 293% more than the 1989 purchase price of $890,000. Situated on 2.4 acres and within a 25-minute drive of downtown Boston, the 6,434-square-foot Colonial was an ideal home base for Romney, his wife Ann and their five sons for 20 years.