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.....
__________________ Sometimes I feel just like Sharpay from High School Musical.... "Don't you see that bigger is better and better is bigger. A little bit is never enough!!! No! No! No! I want it all!" Some people choose to remain in the past with life, love and happiness; never really exploring the opportunity of a new day. To those I say: Build a bridge, Get over it, and Move on. A new life awaits you just around the bend.... |