Even Celebrities Hurt by Housing Slump

News Type: Event — Seeded on Thu Feb 7, 2008 10:20 AM EST

Article Source: ABC News

Even Hollywood's rich and famous can't avoid the housing downturn that's sweeping the nation. In Los Angeles, only 4,430 homes were sold in December, down 48% from the previous year. And prices fell 11% to an average $470,000.

Of course, celebrity homes cost much more than that. An entry-level house for an up-and-coming star costs at least $1.4 million in L.A., say experts. Realtor Barry Sloane of Sotheby's International Realty says it's the owners trying to sell homes in the $3 million to $6 million range that are having the most trouble...

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{"commentId":1444508,"authorDomain":"newsguru"}

newsguru

Poor babies. We should donate. ;)

{"commentId":1444508,"threadId":"215311","contentId":"1284514","authorDomain":"newsguru"}

1 vote

#1 - Thu Feb 7, 2008 10:37 AM EST

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Even Celebrities Hurt by Housing Slump

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