Why do celebrities constantly sell their homes

It’s because of status.

The more money you make (note: not ‘earn’ in their case), the bigger and nicer your house must be to prove how “successful” you are.

In addition to r1, I'd also argue that the majority of celebrities are "new" to having money, so don't take the time to make wise purchases. They make purchases thinking they'll like or use the home, then realize that they're never there or don't like it nearly as much as they thought they would.

A lot of people with money like "grand projects" and when the project is finished they are bored and have to move on to a new, transformative project. Homes, relationships, passionate interests. Whatever. Money makes it possible.

A lot of established celebrities sell their homes. I wouldn't think it would have anything to do with status or money. For instance, why is Jodie Foster selling that nice home?

........

Sometimes children don't appreciate the fine home you bought for them

There’s a lot of money to be made in LA real estate. Many actors don’t make as much money as you’d think. Which is to say… maybe they need/want the money.

Probably the same reasons a lot of people frequently sell homes and move. Many homes are an investment and appreciate, they may want to cash out and move onto the next investment. They may hate the neighbors. They may not like heavy traffic. Some people think of houses as projects and when all the renovations and decorating is done they get bored and start over. Then there are divorces, kids, any major changes like that will often spur a move.

My guess is that the pandemic has caused Hollywood movie and entertainment jobs to dry up. This has caused a cash-flow problem.

Who cares what that racist bitch does? Wonder why she can't seem to make it stick that she's just a loyal friend of racists like Mel Gibson (and James Woods) and not a racist herself. Gee, like that's possible. Fuck her.

In the case of Jodie Foster, I should guess that the decision is down to boredom, buyer's regret, and an itch to be anywhere else but this quite forgettable house.

There's no architecture there, just a boring ranch house that rambled on in this direction and that, upward and outward, and which has been made over more times than George Washington's axe, the one of myth with three new heads and four new handles. There's nothing remarkable or surprising or memorable.

I assume many film/tv celebrities change houses often to signal that theirs are on the ascent. From an expensive starter; to a look at me, I'm swimming in money now; to everyone wants me; to fuck you, I don't even need your money or anybody else's.

And a bit of well placed, well photographed property porn seldom hurt anyone,'s career (or buyer's best offer )

If I were stuck in L.A. making films for too much money to say no to, I'd change houses often, too, just to this time have an astounding view, or this time a great 1920s Spanish revival, or a sexy Sixties glass pavilion surrounded by lush gardens and high brick walls. I associate L.A. with fads, short attention spans, and changing tastes, so why not change houses often?

I've always thought that celebs liked to constantly sell their homes because they can get a premium for their property depending on who they are.

There are a lot of insanely wealthy but non-famous people who buy these homes for the bragging rights of saying they live in Beyonce or Brad Pitt or Cindy Crawford's former house.

She's been rich since she was a teenager. I doubt it's money related.

Aren't a lot of them in real estate as a side gig? Flipping and stuff?

I don't understand the ones who have homes and use hotels long term.

Don't Ellen and Portia allegedly move every six months? Is there a mansion in the LA area she hasn't owned?

Ellen and Portia concentrate on Montecito these days.

A lot of the time it’s actors selling the lavish homes they bought when they thought they’d be A list stars forever., to get something more sustainable.

[quote] Ellen and Portia concentrate on Montecito these days.

Is that what you kids are calling it nowadays?

In my day we used to just call it eating snatch.

Actors as a group are quite flighty. They always say they could never work a regular 9-5 job because doing the same thing in the same place day after day would be soul-crushing (most of us manage okay). They change partners/spouses frequently. They suddenly decide to adopt exotic orphans and dress them up as the opposite sex when the excitement of the adoption itself has worn off. They tend to drink and use drugs more than the average person, because being sober is "boring."

Given all this, why *wouldn't* they sell their houses every couple of years? These are people who are emotional 7-year-olds, perpetually bored with whatever they currently have and needing something new and shiny to make them feel alive.

Money drives some people crazy. They don't know what to do with it.

There are many people with money who will to pay for houses once by celebrities. Do, it's like and investment usually. Who wouldn't pay top dollar to but Ruta Lenskis bungalow in the hills!

People who constantly buy and sell like that don't have "homes". They have "houses". They treat whatever house they live in as a potential profit source. They don't "live" in these houses. They simply exist in them until they dump them for a profit. Nothing wrong with that, if that's the way you want to live your life.

The houses become to expensive to maintain....

Lots of them move to smaller,cheaper, but still expensive places.

Except the ones who get bored of living in the same place for fifteen or twenty years and move to an even more expensive house

Jodie's probably hiding from John Hinckley.

There's a fat orange creature in Florida and sniveling hateful Uncle Tom in Washington whose sudden demises would really impress Jodie.

The picnic table is a mistake, otherwise it's a nicely decorated home.

Why do gay boys constantly tell us about celebs selling their homes?

<- why are you here?

No one pays a premium to say they bought a celebrities home. They may brag about it, but to think anyone is overpaying because "Brad Pitt lived here", not happening.

I used to know a guy who built homes. He had a few floor plans for beach houses and did most of the work himself. He and his wife would live in the home for a certain amount of time for tax reasons, if I recall, then sell. They did this with at least 3 homes in a coastal neighborhood before moving on to another town. It would drive me crazy having to up and move all the time. Moving absolutely sucks.

Ellen and Portia are house flippers.

The same people who bounce from movie location to movie location get bored easily and so feel a need to bounce from home to home as well.

Every now and then I hear about a celebrity who still lives in the same house they bought when they first started making money (example: Rebecca De Mornay) and I have more respect for them because they come off as more stable and less flighty.

It's such a hassle doing up/renovating a house and the whole process. I never get why people like it. My parents were big movers when I was growing up. My mother loves the people most people hate. Real Estate Agents/builders/decorators. It's really strange.

R32, not celebrities but in my case the goal was to have a nice (not lavish) house at the beach, at an age when I could enjoy it. I bought a little dump with a guest house I rented, moved to a bigger house, and finally got the house I wanted. It took 10 years- but I started with no money.

Many celebrities are the most vapid, boring people you will ever meet. Everything has to be a new "experience" for them, whether it's a trip, home or sex partner. They buy cars, boats, planes, clothes, jewelry, art and hookers/hustlers because they can and then find them easily disposable. Sure, some celebrities have smarts but they're usually not the ones you read about in the tabloids.

Celebrities in general are not known for having long attention spans. They get bored rather quickly. The access to lots of money only exacerbates their boredom. They're always seeking something better and can rarely be happy with what they've got and in many cases have the money to indulge their whims.

In the past, Jodie tends towards a stable home life. When she was with the old broad she had her kids with, they stayed in their home until Jodie cheated and the relationship fell apart. Even then, if I remember correctly, Jodie bought a house down the street. Just before she got with Alex publicly and then married, she sold that house and bought this one. Knowing that, I wonder if another shake up or break up is ahead.

A lot of old Hollywood Movie Stars lived in their homes for decades on end. This buying & flipping houses is a relatively new phenomenon with celebrities in Hollywood. Stars use to buy a house & stay put for decades & build memories in their homes. In neighborhoods like Brentwood Bel Air Beverly Hills Holmby Hills the Hollywood Hills etc.

Celebrities today don't know how to be satisfied with their lives. They have to constantly be on the go instead of just having a home to come home to & just relax and build a life in. I couldn't do that. I'd want to be stable & have a home to live in & be stable. I'd have my one permanent residence & the rest would be investment properties etc. Stability is paramount for me. I have to have a place to call home & be able to put my things away long-term & not have to think about packing up and moving constantly. Home is where the heart is & my home would have to be a long-term location for me.

Many do it because they are making way more than by acting jobs. No one was ever paying Rob Lowe the $44.5 million he got for his Montecito house.

For the most part, I don’t think there is much difference in 2022 between those who have been around significant wealth and those who are new to it (within 10/20 years). Those who are new to it in my experience buy and discard or sell large ticket items with more frequency. I think it is in part because they don’t know what they really want. Great example is Mrs O who once she had the NYC coop she wanted and the house on the Vineyard she wanted- that was it even though during that period of time her wealth increased. She had been around wealth all her life- old and new. Same is true of a few wealthy families I know of (including mine) who are more than satisfied inheriting our parents summer home (one medium large and one medium small house) on Nantucket. Fords will do fine (no need for a Range Rover.) But fit the most part most of the distinctions of wealth have blurred. Actors are almost all new to wealth.

[quote]I remember correctly, Jodie bought a house down the street. Just before she got with AlTx publicly and then married, she sold that house and bought this one. Knowing that, I wonder if another shake up or break up is ahead.

Hopefully they are happily together. The article is more than a year old.

Her two sons are grown and at college so she probably wants to downsize, or just change surroundings. Admirable she stayed in-place so they had continuity growing up.

I’m on my fourth house in 20 years…I enjoy change 🤷🏼‍♂️

Houses are investments. Probably most of the houses you hear about aren’t their primary residence. They have multiple houses. Also, working actors often spend most of their time on location. So they never really live in a house.

[quote]Stability is paramount for me. I have to have a place to call home & be able to put my things away long-term & not have to think about packing up and moving constantly. Home is where the heart is & my home would have to be a long-term location for me.

I'm as home obsessed as anyone but for me stability isn't the permanence of the four walls, it's always having the home I want, furnished how I want, settled and looking like it's always been mine. I love my home and am very happy in it, but am always on watch for something that's bigger, better, different, a new location, a new challenge. Given some overlap of buying one place and moving into another, the transition is just a fleeting interruption.

No, r18, you’re thinking of Montes-EAT-oh.

Actors unless they are big Hollywood stars with bankable names and lucrative contracts aren't rolling in dough. They are paid contractors. 90% of actors aren't A-List or even famous and many have side hustles. That's why you see so many actors endorsing brands, doing social media promo, investing in wine and shoe lines and flipping homes.

Real estate investment is another form of income for them.

I've lived in the same house for 27 years, but I'm British and we renovate/remodel a lot. Not sure that I've had two years together without serious building work going on. It definitely looks nothing like the house we bought, internally or externally.

Some celebrities never even live in the house.

We know, thanks.

For the celebrities that get divorced and remarried, they might want a new house to go with the new spouse.

Jodie's house was surprisingly modest-looking. I don't know BH, but looks like she's pretty high up in the hills with lots of privacy.

A bunch of 45 plus are selling assets. They want cash before the aliens take over.

Imagine all that moving and putting things away. I guess they have a lot of down time.

OP is so provincial.

[quote] Stars use to buy a house & stay put for decades & build memories in their homes.

Exactly. Lucille Ball and Desi Arnaz purchased their Beverly Hills home on Roxbury Drive in 1955 for $85,000 and Ball lived there for the rest of her life.

DL fave, Linda Lavin purchased a beautiful home in Toluca Lake last month.

And there it is, reply 25. Never takes long for Trump to make an appearance in any thread. Christ, sick of it.

As to the topic at hand, I agree for some it's restlessness, and maybe being influenced by everyone else doing it.

I’ve always thought that it was interesting how Leonardo DiCaprio has always had the same Beverly Hills home as his main residence for over 20 years. That’s rare for a celeb to keep the same home for that long (of course, he has other properties that he has bought and sold over the years).

It's not like these people are going to Uhaul. Movers pack everything, with PAs overseeing.

^I would still hate to move so often and then doing renovations and dealing with contractors. Celebs really are always listing though, both CA and NY.

R59 I saw Mackenzie Phillips in Box City in Studio City buying boxes to move. I overheard her tell the salesperson she was moving to New York.

And Lucy's house looked like she lived their since the 50s. Some of the bathrooms were original (not in a good way), and the entire house needed to be stripped to the studs. It took forever and numerous price cuts to sell.

R56 There's a fresh, freckled face in the neighborhood!

R62, Mackenzie is a burned out coke whore with no money. We are talking about serial movers.

R62 Did she invite you over for tea?

I'm not a celebrity. I've lived in the same rent controlled Chelsea apartment for 30 years. Moving every so often would be a wonderful option but I'll be here until they carry me out in a body bag.

Where does Madonna live these days? LA? Lisbon?

R65, actually yes. I went with Carole Cook. Not for tea though.

Jodie is retiring and needs the cash.

Mae West lived in the Ravenswood Apts in Hollywood for 50 years.

Jodie lived at 9219 Flicker Way for many years. For someone who values her privacy, the house was right on the street and you could look right into the windows. I walked my dogs on that street many times and I saw her in the windows a few times.

A few houses down on the corner was Dolly Parton's house at 9201 Flicker Way. Dolly rarely used the house and didn't keep it for very long.

Here's Mackenzie Phillips on a Hoarders-type show.

I wonder why she's moving to NY. She was working at the Pasadena Recovery Center.

I like her and wish her well.

My friend Kimberly lives in Mae's old place. It's really nice.

BTW, The Ravenswood has no air- deal breaker for me.

She's worth 250 million dollars. She probably has 6 of these. I doubt anyone knows where she actually lives.

Who?

Foster. Do keep up hon

People absolutely do pay a premium for celebrity homes, this is a known, established fact in NYC and LA. How much of a premium is variable - depends on the property and the celeb. But I’d guess it’s often enough to cover the real estate agent’s fee. So it makes sense that celebrities would buy and sell more frequently because their net costs are less. That said, once you account for the very high incidence of divorce, I don’t think celebrities sell their homes that much more frequently that “regular” rich people.

Celebrities usually have several homes. They don't actually "live" in all of them. The homes are investments. Cher was always redoing houses and selling them.

[quote]She's worth 250 million dollars

Between working for more than 45 years and investing, I suspect she's worth a lot more than that.

I’m telling you, she needs the cash. See if she moves in a bigger home and the answer will be no.

Jodie is not worth anywhere near $250 million. She's worth around $100 million and that's being generous. Jodie's only big film was Silence of the Lambs and she had to audition for the part because she's not who Marc Platt wanted for the role of Clarice.

Marc Platt explains how Jodie got the role in Silence of the Lambs here...

R78, Bullshit. Betty White's home in LA was sold for land value. It was a tear down. Not being kept as a Betty monument.

Established fact, from where? Yes, it is usually known or mentioned in the listing info, but rich people are generally rich cause they're smart. They are not overpaying to say "Ellen lived here". You are talking out your ass.

I could list dozens of celebrities who actually lost money, or thought they could capitalize on their fame and failed. Those very few houses that are trophies are rare.

Also, an agent's fees are generally 2.5-3% each side. So 6% tops is hardly any grand premium.

Hasn't Sandra Bernhard been living in (and complaining about) the same West Hollywood house she's had since the 80s? I know she has other homes, but the fact that that one is still her main one is kind of endearing!

"She's (only) worth around $100 million ..."

Are you people out of your fucking minds? That isn't enough? Do you people know what REAL people in the working world make. You guys are either high, delusional or full of shit.

Because provenance automatically increases the value. OMG...you mean Angelina and Brad once owned this house (for six months) for their maid to have a place to stay??? Add an extra $200,000 to the asking price.

What gives you the impression she lived there? Or if she did at some point, what makes you think she's stepped foot in that house in the 2020's?

This is an accounting thing. The housing market is great. She may not live there. Her accountant or business manager might have pointed out the cost of landscapers and house staff taxes, electric, overhead is high if she's spent most of the past several years in NYC. and pointed out the last 3 times she stayed in LA for more than a few days, she stayed at a hotel being paid for by whatever project she was promoting. She may not LIKE staying in the house when she's in LA--She doesn't know the staff and finds it awkward to be around them, she doesn't know how to work the tv's, she doesn't know where the light switches are.....Shit like that happens a lot when you live a life like she does

The last 2 major celebrity properties that buyers overpaid that I can think of, both Jon Elgin Woolf's. Sue Menger's , iconic but needed a huge amount of work, bought by the Grubmann's, and Jill Collins buying the house next door because she is a conservationist and didn't want ongoing construction.

Fortunately for those already wealthy people, the market went up so much it didn't matter.

[quote]Jodie is not worth anywhere near $250 million. She's worth around $100 million and that's being generous. Jodie's only big film was Silence of the Lambs and she had to audition for the part because she's not who Marc Platt wanted for the role of Clarice.

She has acted, directed and produced since SOTL, plus done commercials in other countries. If she had invested $20 million in the stock market in 1995, that alone would be worth $88 million.

This is from celebritynetworth:

"At the peak of her career between the mid 1990s and late 2000s, Jodie earned over $100 million in base film salaries alone."

OP it's a sign of the apocalypse

"She doesn't know the staff and finds it awkward to be around them, she doesn't know how to work the tv's, she doesn't know where the light switches are.....Shit like that happens a lot when you live a life like she does"

Exactly WHOSE life are we discussing again Hellen Keller's?

You know, the French people of the late 1700s (I'm sure you read about all of this is college, Jodes, when you were, you know, "studying") knew a lot less about how Marie Antoinette lived that what your PR people foist on us every fucking day. Because, you know, they had no internet. The American public are NOT happy at the moment. Hmmmmmm.... What could this possibly lead to? I wonder..... You better run, Jodie!

Lacks personality, just like her.

An actor who I can't name, was looking for a house for his mom. He was making $3 million a year on a TV series, and this was long ago. That net was half, with taxes, manager, etc. Plus, every relative expected support.

He's on his third marriage now and BROKE.

So much for show biz.

Why can't you name him? R95! If he's broke, what can he do?!

R92, exactly. How much staff would she have? You know light switches better in a strange hotel?

DL is heading to the shitter. I miss the days of people that knew things.

R95, still need to make a living . It's a Hazzard.

John Schneider. I'm surprised. I thought he would be better off in his golden years.

I just imagine major celebrities having so much stuff that they don't know what to do with it. I mean just think of the free swag they're given all the time, things most of us would be thrilled to get, just laying in piles around their homes. I think it must make them scatterbrained, less able to attach to things and places and maybe people.

Jeffree Star just took a nice loss on his Hidden Hills monstrosity after you account for agent fees and all the money he put into renovating the place. He's not quite the savvy real estate investor he once claimed to be.

Watching RHOBH, how many times have Dorit, Kyle, & LVP sold their homes/moved? They do so much remodeling, only to up & go.

Not to mention, Erika also moved out of her Pasadena mansion. Oh, wait…

[quote]DL is heading to the shitter. I miss the days of people that knew things.

R97, I miss those days, too. By the way, you should know it's "people who knew things" not "people that knew things."

Lick my taint.

They upgrade, they flip it for profit, they need the ca$h, they're constantly working or traveling, and are hardly ever there, it's too expensive to manage or maintain, a divorce, a lawsuit settlement, property taxes and upkeep are not worth it, need a change of scenery, crazy neighbors, etc. A whole slew of reasons. :-)

Jodie would be unable to write a check for $1,000, like most Americans. It’s sad that she lost all her money.

Hahah how do you know R106?

Jodie maybe C-list nowadays, since she came out of the closet, but she was an A-lister once.

That ugly cunt hasn't made a movie in 30+ years. a girl has to pay the grocery's bills

Investments

Why do people talk out of their asses? Jodie isn't broke. She sold the bouse she bought for her mom a couple years ago for over $2.5 million.

Many celebrities are mentally unstable and not very smart.

Homes for celebrities are usually just investments. That's why they have several of them. They're investments to be sold at some point.

I was the toast of the 70's

I think their personal property is removed long before any property owned by them hits the market. These homes are usually staged with nice but plain furnishings, so the scale and shape of the rooms is evident. I think the windows are artificially enhanced, so that the light passing into the space looks brighter and crisper than in person.

Somehow, without ever having Hemet her or followed her career too closely, I don't see Jodie Foster lighting Cuban cigars with $100 bills, having plane loads of €500 a bottle Spanish wine flown in weekly, and spending $3M to send some idiot's ashes into space. But I could be wrong.

Her voce, her demeanor, everything she says and the way she says it suggests that her actions are considered and that she probably learns from business and money mis-steps sharpish. But I could be wrong.

*without ever having met her

Why do celebrities constantly sell their homes? They don't. They sell their HOUSES.

R117 That distinction is meaningful here. “Home” implies more meaning and personal connection. I always found it odd that it is hard to translate into other languages, like French.

Linda Lavin's home at r56 is absolutely stunning. That's one of the best-kept Spanish Revival homes I've seen posted here. That original bathroom tile is gorgous.

[quote]Why do celebrities constantly sell their homes? They don't. They sell their HOUSES. R117

I'm with E118 in not getting my panties in a bunch over "home." There's nuance to the meanings.

"I'm going home now" is not "I'm going to my house now", not "I'm going to my one-bedroom condo now" made pretentious. "Home" is definitely overused, but it's not wrong, and it's not empty of meaning in the right case.

"John is a great realtor, he's sold me 4 homes now" (2 houses, and 2 apartments, one a condo, one a co-op)

"Home is where the heart is" or "I've lived in more than 20 houses now, but the house on Shady Crescent is above all the one that I consider home."

Sometimes "home" is an umbrella for houses and other non-house housing types. Sometimes it's housing with some personal investment and meaning beyond it's bricks and mortar.

because of boredom