The Wall Street Journal mentioned that NBA players Allen Iverson and Rasheed Wallace both reduced the asking price on their homes.
Iverson dropped the price on his house in the Philadelphia area by 37% - from $6.3 million to $4 million. He bought the house in 2003 for $5 million.
Wallace dropped the price of his home in Portland from $5.2 million to $4.9 million (down by 6%).
I think this story shows that the housing slump is now affecting the market for luxury properties.
Tuesday, 9 September 2008
Even NBA Players Are Affected By the Housing Slump
Posted on 13:31 by Unknown
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