Rick Ross' 44k Square foot 5.8m mansion has lost -53% of it's value since he bought it

[aXiom]

My nanny kept that as a one of her vacation spots before I convinced her to sell it to Rozay. She actually made a cool $5M off the deal. Good thing she sold when she did.

 

[CarltonJunior]

If a white CEO bought it I bet it would be worth 15 mil

 

[Jekyll]

shyt that’s almost in my range. They only lowered it because he’s black and it has a history of black owners.

 

[KING WILL]

It's not ideal, but I doubt he's worried about it.

Hell, he might be happy about it. He should be taxed less on that property now.

 

[Umoja]

Good way of offsetting his profits for the tax year.

 

[Rembrandt]

$3 mil for that is fukking nuts regardless tbh

 

[Master Teacher]

It's just an estimate based on the sales in the zip code, it's not an appraised value for the property and it's not even on the market

yall really don't know how real estate works do you

and property values always go down then back up, its a buyers market right now and values will only to continue to dip

 

[Mowgli]

It's just an estimate based on the sales in the zip code, it's not an appraised value for the property and it's not even on the market

yall really don't know how real estate works do you

and property values always go down then back up, its a buyers market right now and values will only to continue to dip

It's kinda both.

Buyers get low interest rates and sellers get high profit.

 

[Spiritual Stratocaster]

It's just an estimate based on the sales in the zip code, it's not an appraised value for the property and it's not even on the market

yall really don't know how real estate works do you

and property values always go down then back up, its a buyers market right now and values will only to continue to dip

Crime In the area fukks up value too right?

Values been going down in certain. Areas of Seattle due to.homeless population...

Don't know if republican cap though.

 

[Pimp]

My house more than doubled since 10yrs

You have a regular house the normal people can afford. Everything doubled the last 10 years but mansions lose value because millionaires can just get a house built how they want it

 

[Kyle C. Barker]

Racism isn't ideal. It kinda sucks let me tell you

Ross is smart with money so I wouldn't be surprised if he had a low mortgage (I actually expect him to not have a mortgage at all and just be relegated to taxes)

 

[#1 pick]

Its located in a heavily black area and in an area with below average schools on the south side. It's not in Fayette county. Then again, everyone that got money who lives there sends their kids to Woodard and other surrounding private schools

 

[Kyle C. Barker]

Its located in a heavily black area and in an area with below average schools on the south side. It's not in Fayette county. Then again, everyone that got money who lives there sends their kids to Woodard and other surrounding private schools

I ain't even got kids but it's all about the school system when buying

 

[sportscribe]

Isn't the estimate based on algorithms and not a formal property appraisal?

Also, because the property was purchased for $5m doesn't mean that was the actual value of the property. He could have paid over the market price/value for it.

 

[UberEatsDriver]

Do y'all think ross made a mistake buying this house

8 years since he brought it and it's gone down -53%

Real estate is all about location. I’m going to have to Google search his house cause last I remember his house was in the middle of nowhere.