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The Biggest Real Estate Flops of 2009 
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Old 12-15-2009, 01:28 PM
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The Biggest Real Estate Flops of 2009



The high-end real estate market hit new lows this year as multimillion-dollar properties failed to attract buyers even after huge discounts.

New-home sales rose 24% and pending home sales jumped 32% in October from a year earlier, but estates with wine cellars, infinity pools and servants' quarters saw their prices drop 7%. Basketball star Shaquille O'Neal and rapper 50 Cent were among the bigger names to take losses or pull their homes off the market.

Some luxury sellers are still weathering the storm. While the former home of the Detroit Lions took perhaps the biggest beating of the year, the former mailing addresses of Leona Helmsley, Nicolas Cage and Bernie Madoff still have no takers. Here are five property duds whose oversized infamy was matched by their inflated price tags:



I think we should buy the island.....
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Re: The Biggest Real Estate Flops of 2009 
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Old 12-15-2009, 03:19 PM
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yeah...we the poor guys like to see the rich and famous stumble...I guess...otherwise it won't be a big news...
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Re: The Biggest Real Estate Flops of 2009 
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Old 12-15-2009, 03:26 PM
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Yes-what joy to see Tiger Woods fall

It lifts me up
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