STONE HIT BY CREDIT CRUNCH AS PROPERTY PRICES SLUMPS

Last updated: Sunday, June 1, 2008

STONE HIT BY CREDIT CRUNCH AS PROPERTY PRICES SLUMPS

Actress SHARON STONE has fallen victim to the global credit crunch - she has put her luxurious Hollywood home up for sale at a loss.

SHARON STONE

The star bought her expansive Los Angeles mansion for $5.5 million in 2006, but has been forced to put the property on the market for a shocking $500,000 less than its original price, according to reports.

The U.S. real estate market has been driven into crisis mode since the worldwide credit crunch hit at the beginning of the year (08) - seeing fuel and food prices soar, while the property market has slumped.

Stone, 50, is one of a number of Hollywood stars who have been effected by the market slowdown - Cheers star Ted Danson and actress Angela Bassett have both seen their property's hit the market for less than they originally paid.

LA property expert Ann Brenoff tells the U.K.'s Daily Star newspaper, "These Hollywood types are feeling the market's slowdown just like everyone else and they are having to lower their asking prices as a result."

Source: WENN

| Sunday, June 1, 2008

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STONE HIT BY CREDIT CRUNCH AS PROPERTY PRICES SLUMPS

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