Bushes Buy Home in the "Big D"

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WHITE HOUSE - President George W. Bush and first lady Laura Bush have bought a home in an affluent North Dallas neighborhood, where they will live after the president leaves office in January.

Laura Bush's press secretary, Sally McDonough, said Thursday that the Bushes purchased a home in the Preston Hollow area, where some of the state's wealthiest residents live in some of its most expensive houses.

"We picked out a house but we don't have occupancy of it so as soon as we do, we'll announce exactly where it is," Mrs. Bush told NBC News on Thursday. "We're looking forward to that."

While the White House has declined to disclose the address, local property records indicate that Robert McCleskey, a Bush family friend from Midland, Texas, who has done accounting work for the family, recently bought an 8,500-square-foot house with a market value of $2.1 million on a cul-de-sac with about a half-dozen homes.

McCleskey is listed as a trustee on the ranch-style brick house on Daria Place, and he said the house was bought Oct. 1. He said he could not say for whom the home was purchased.

The president is buying his post-White House home at a time of falling real estate prices and lowered mortgage interest rates.

The Bushes had lived in Dallas for six years before their move to the Governor's Mansion in Austin.