Regular people aren’t the only ones who have been hit hard by the real estate market’s current crisis – celebrities are, too! We’ve come across some celebrities that have had to throw the towel in on their moving plans, just like the rest of us.
Property values have declined and it doesn’t look like they will be appreciating anytime soon in most regions. This has hurt everyone – both buyers and sellers. Celebrity real estate deals have also been hurt which means celebrity relocations have also slowed down.
Even the crooner Barry Manilow who can do no wrong has been hit by the crisis. His Malibu beachfront house sat on the market for over 20 months without moving. Pierce Brosnan had to reduce his asking price in the same neighborhood due to a weak buyer response.
The celebrity housing slump isn’t just on the west coast, either. Manny Ramirez’s home in Boston was on the market a number of 4 times since he originally made the decision to sell it back in 2002. Hulk Hogan, in Florida, also found it really hard to move out of his home, which has been on and off the market for the last 5 years.
However, this may be less of a trend in the good old Big Apple. There have been plenty of celebrity moving stories in the past few months – from Harrison Ford selling his condo in record time to Heidi Klum on the prowl for a rental in the city.