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What happened to Kanye West's real estate plans? Financial expert analyzes the decline of the scandal rapper's luxury villas.
According to a report from www.blick.ch, scandal rapper Kanye West has let his own houses fall into disrepair. Many of his construction projects have turned into rubble, although he once aimed to become one of the largest real estate developers. The impact on the real estate market: West now wants to sell one of his destroyed mansions, including his beach house in Malibu. However, the sale is likely to be difficult as it has completely gutted the property. This could lead to a significant reduction in the value of the property as potential buyers could be deterred. The original purchase price was $53 million, but the home is now for sale for $47 million, which...
What happened to Kanye West's real estate plans? Financial expert analyzes the decline of the scandal rapper's luxury villas.
According to a report by www.blick.ch, scandal rapper Kanye West has let his own homes fall into disrepair. Many of his construction projects have turned into rubble, although he once aimed to become one of the largest real estate developers.
The impact on the real estate market:
West now wants to sell one of his destroyed mansions, including his beach house in Malibu. However, the sale is likely to be difficult as it has completely gutted the property. This could lead to a significant reduction in the value of the property as potential buyers could be deterred. The original purchase price was $53 million, but the home is now for sale for $47 million, which is less than West paid at the time.
West also purchased church property in Northridge, which he also neglected. This could affect the image of the property and the surrounding area.
His ranch in Calabasas and his property in Wyoming also appear abandoned, which could cause the properties to decline in value and the attractiveness of the locations.
Overall, Kanye West's neglect and destruction of properties could have a negative impact on the real estate market and surrounding communities. Potential buyers could be deterred and the value of the property could decline. This shows that celebrity behavior regarding real estate developments can have a significant impact on the market.
Read the source article at www.blick.ch