The real estate market has not only affected the little guy, it also slammed a few celebs. Most recently, Nicolas Cage has been forced to auction off numerous properties because of bad financial investments. Sadly, he had to leave his beloved Bel Air home.
The fate of the sprawling Tudor mansion owned by the actor, who won an Oscar for his role in “Leaving Las Vegas,” was decided Wednesday far from the baronial estate. His home, which had six loans totaling $18 million on it, sold at a foreclosure auction on April 7, 2010, for nearly $25 million less than Cage’s original asking price. Wow, somebody got a heck of a deal.
Fortunately for Cage, a Capricorn, he’s an A-list movie star and can replenish the money pot rather quickly. According to Forbes he earned over $40 million last year. Obviously, he’s not good at managing his money and it’s time to simplify his life.
Time to take the credit cards away from his VERY YOUNG wife. You can catch him in his latest flick, Kick-Ass.