Thursday, July 30, 2009

Nicolas Cage can't sell his house - can you?

SHOOT: This is happening everywhere. And when you're using the value of your home as an ATM and that value turns, then you;re in trouble and the banks who've dervied their wealth from the assumption that property values always increase.
clipped from

After going unsold for two years on the market, NICOLAS CAGE has slashed the value of his Hollywood mansion - relisting the property at half of his original asking price.

The Leaving Las Vegas star first put his Bel Air home on the market in 2007, but the house failed to attract potential buyers with its hefty price tag.

After all this time Cage is still struggling to off-load the estate formerly owned by Dean Martin and singer Tom Jones - so he’s revalued it at $17.5 million (down from $35 million), according to

 blog it

No comments: