The Wrap:
The cache of a celebrity home has been one of the last few glimmers of hope for Southern California real-estate agents trying to hang on in the current economic climate, which has left sales volume in upscale areas like Beverly Hills deflated.
Many stars -- including Britney Spears and Christina Aguilera -- are feeling the effects of the slowdown.
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wow, i feel sorry for them. do they need a bailout now too?
What a poor excuse for an article.
A complete waste of bits.
I am waiting for Aaron Spelling's mansion to come down to my price range. And, then I'll snap it up.
heheheheh!!!
Only A list, to losers..wi
Uh, sir. They have more money than you.
"Los Feliz is one of the few neighborhoods that's seen a boost in the last year's challenging market: The median sales price for a single family home rose by nearly $200,000 to $931,250 and sales volume in the area increased by around $6 million to $13.7 million, according to the Multiple Listings Service"
This is very bad for the current residents of Los Feliz, the property taxes will probably price many of them out of the neighborhood.
No, in California your property taxes are almost frozen at the value of the house at the time you purchased it. Prop 13?
Regards
These properties will probably NEVER be worth what was paid for them
at the height of the bubble, and may continue go decline in value for several years
to come.
Did they try to advertise them in Hong Kong or Shanghai?
And Man will never fly or go to the moon, the Mets will never win a world series. A black will never be elected President.
At 60 I have lived through a bunch of NEVERs, including when the real estate bubble in LA busted in the late 1980s/early 90s.... and the same thing was said then when Cages mansion was worth 3 million and not 37 million or 16 million.
I remember in the 1970s when an investment in a waterfront Condo on Sanibel lsland or in Naples in Florida at 15K were considered high risk investment
Regards
Maybe some of them will stick to having one house instead of three to five homes in different locations across the country.
Please tell me we're not supposed to sympathize with these people?
Let's see. Some overpaid people bought some overvalued homes that are now worth less than they paid for them. To hell with those people who make under 75,000 per year, just manage to pay their bills and find what savings they had in retirement plans shrunk to nothing like the equity in their homes. I say this financial situation is a stress to our "stars" and celebrities who should never have to be subjected to the whims of the economy or anything else affecting the common folk. Let's ask the government to bail the celebs out by subsidizing them to the extent of the decrease in their home values. But there has to be some limits here. Only two homes per celeb would get a subsidy. With their 3rd, 4th etc homes, they are on their own.
Jesus...my heart aches for these people. Not.
Oh boo hoo!
Candy's is still selling hers but hasn't dropped the 150m price yet.
Wonder what unrealistic price gossip columnist Janet Charlton is asking for her house, it's really in a crappy location right next to a busy noisy traffic intersection at 3rd & Rossmore, I've seen the for sale sign out for a long time now.
I think the point of the article is that "even the extreme wealthy" in entertainment are being affected by the mortgage market problems.
I guess that doesnt really apply to the bankers that designed the entire fiasco decades ago as their next big no-risk-for-them 100000% profit scheme.
OH yes lets have a big pity party because some over rated over paid hollywoods house is down a couple of million now!!! this just makes a tear run down my leg.
These people are so grossly overpaid, right in line with the CEOs. You would never have seen someone with Cage's lack of talent owning that much real estate in the old Hollywood, where people actually worked very hard to keep their careers going -- not like today.
So where is all the populist rage against hollywood/sports figures salaries a la AIG?
Poor Brit Spears ..... she's so needy ..... not fair!! LOL
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04/24/09 07:05 PM