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

[GUWOPPERS]

Aren’t those incentives for the production companies themselves?

Sure, but my point is more movies being made there.

Seems like the whole thing is a business venture


And he was probably able to finesse the house as a business expense

 

[MoveForward]

I also HIGHLY doubt that house is “only” worth 2 m’s in this market, y’all are nuts if you believe that. The land that it sits on is worth way more than that alone.

 

[Akae Beka]

Yall need to stop acting like that man's home is Tyler Perry Studios.

 

[sayyestothis]

Breh it's in GA...of course a home like that gonna go down. Who in that price range wanna live in that dump area??

 

[⠀X ⠀]

This has to be the most ignorant thread of the week...

 

[MoveForward]

Breh it's in GA...of course a home like that gonna go down. Who in that price range wanna live in that dump area??

30 minutes outside of Atlanta and 20 minutes away from the airport. You’re not going to get a house of that size and that type of acreage that’s in the heart of the city. He also owns a mansion up the street from the Holyfield mansion in a gated community where the homes are worth millions as well. That house is a promotional tool, he doesn’t actually live there.

 

[King Sun]

Buying big mcmansions down south seems like an L to me.

 

[Kurt off them percs]

who cares

 

[Hater Eraser]

...

 

[Jekyll]

Breh it's in GA...of course a home like that gonna go down. Who in that price range wanna live in that dump area??

More people are moving to the South than any other region in the US. Fayetteville looks closer to the rest of the South than Atlanta does.

 

[Ayo]

Some people buy a house just to live in and not sell

Depreciation still comes into the equation. Not even billionaires want to lose money on real estate.

 

[Jekyll]

Depreciation still comes into the equation. Not even billionaires want to lose money on real estate.

Yep properties are stores of money as well once you get to a certain level of income. Not everything can sit in savings or investment accounts.

 

[Shadow King]

Some people buy a house just to live in and not sell

That's not what he bought this for.

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)

You think he bought this for almost 6M outright?

 

[Kyle C. Barker]

That's not what he bought this for.

You think he bought this for almost 6M outright?

Tbh I don't really know breh. I'm speculating like the other brehs here

 

[Shadow King]

Keyword estimated value, and so its true value will be dependent on how much the market is willing to pay.Aint no way that house and the land is worth 2 million.




Breh the majority of the population cannot even afford a birkin bag. We are talking about a handbag that has a waiting list.







To park money and to make a statement,plus the tax write offs.

That's the point, since such a small number of people can afford it, it's implied that group is likely old/conservative money or deep 9 figures/billionaires. Rappers are new money determined to show everyone they have it turn things they previously couldn't have into a trending trophy thus losing it's value with the old money.