Justin Bieber has Millions, Can’t get a Mortgage
I think somewhere between the airbrushed photos and carefully edited reality shows most of us get the impression celebrities are exempt from the everyday trails the rest of us face. Here's a reminder that even multimillionaire celebrities live life (sort of) just like the rest of us...sometimes anyway.
Despite having millions in the bank and seemingly millions more on the way, a bank has decided not to issue a mortgage on a 7+ million dollar home for Justin Bieber. Bieber was reportedly prepared to pay for the property in cash, but his business manager insist that he take out a mortgage on the home. The bank has denied Bieber's mortgage application, however, claiming that the home is appraised at being worth much less than the 7 million asking price. The price is now being negotiated with the seller, but reports are they aren't wanting to budge much because of how much they have invested in the home.
Check out the photos of Bieber's potential dream estate below.
How rough it must be to be rich and famous!
By the way, in case you're wondering how Wichita Falls has been fairing compared to the rest of the nation during the housing "crisis," looks we're doing pretty well. The Federal Housing Finance Agency shows local house price appreciation sitting little above the Texas state average, but well above nation average since the market crash. Check it out for yourself.