Falling Florida Home Values; Beyonce Feels the Burn

Singer Beyonce Knowles, recently sold her Miami, Florida condo for nearly 25% of what she paid for it. According to TMZ, Beyonce bought the 190 square foot condo in 2002 for $465,000 only to sell it this November for $110,000. This is a $355,000 loss on what TMZ suggests was essentially a private restroom. This is a far greater loss than most mortgage holders face, but this also wasn’t Beyonce’s homestead, it was a luxury property. With so many homes underwater in Florida, it’s no wonder the star lost out on this investment. One things is for certain, with an income like hers, a small property like this won’t be irreplaceable.