The Real Deal in Real Trouble

[HRx]

Getty Images.Evander Holyfield, the former heavyweight champion of the world, faces foreclosure on his suburban Atlanta mansion. The 17-bathroom mansion on Evander Holyfield Highway will be auctioned off to the highest cash bidder on July 1 after The Real Deal (not to be confused with The Real Deal magazine) defaulted on a $10 million loan from Washington Mutual Bank.

Mr. Holyfield's the latest celebrity snared by the foreclosure wave sweeping the United States. (We told you about Ed McMahon earlier this week.) The Wall Street Journal reports this morning that about 10 percent of homes built after 2000 are now vacant.

Evander Holyfield's Atlanta mansion to be auctioned next month
by Tom Acitelli | June 6, 2008 | Tags: Real Estateevander holyfieldForeclosure

[JRScott]

We'll see more of these I think. While Celebrities generally make what the average American considers a lot of money, most of them spend it at a rate higher than they earn, just like the average American. Since there is far more money involved it is more likely to lead to foreclosures and bankruptcies.

[epiphany]

Never mind.