hip hoppers begin property LIQUIDATION!!

Quote from sumosam:

Please enlighten me. I understand that alot of folks who took subprime mortgages were probably below average wage earners to say the least.

I know alot of big homes have been for sale, but just don't get the connection. With the difference between the rich and "poor" so large now in the US (I am not American), don't quite get how these high income earners could crash so suddenly."

I know alot of rich folks can also live beyond their means, but surely these homes were not bought with subprime mortgages.


:confused:
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there are many wealthy people with subprime mortgages. no idea the situation with these guys, maybe they are moving up, i don't know.

i know someone personally with 3.5 million of subprime debt thats gonna ratchet up to 11% in may..... and he can't refi......

surf
 
Quote from jsmooth:

50 Cent made 400 Million from the whole Vitamin Water buyout (http://www.sixshot.com/articles/7220/) - i highly doubt he's selling as a result of the sub prime mess, and he cant pay the mortgage.
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yeah, that's amazing.


however, think of tyson, or mc hammer--- how much money did those guys blow thru in a very short period of time??

when you're importing veinless marble from greece, etc. , money goes very quickly.....

surf
 
You could hand 10 of these guys $100's of millions and half will be bankrupt in 10 years.

Maybe I'm just jealous, but it seems like way too many of these guys don't handle their wealth all that well.
 
Quote from marketsurfer:

yeah, thats amazing.


however, think of tyson, or mc hammer--- how much money did those guys blow thru in a very short period of time??

when your importing veinless marble from greece, etc. , money goes very quickly.....

surf
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Yeah he definitely spends the money. I saw some shit on that house show on MTV and that dude buys some expensive shit. Exactly, look at Tyson and MC hammer, those guys had retarded amounts of money and now they're broke.
 
Im in the music business and own a digital Label. Its a hobby that brings in money.

The "Record" industry has been in trouble for years. They can not recoup the "hype" money they spend for these artist anymore.

Most recent news, is that many of the top 5 left will be laying off and restructuring their "assets", which means artist.

Record Labels waited to long to embrace digital sales, which will be the death to them.

Their Overhead is super high, far higher than the returns they receive since 2000.

Most Rappers are still "niga" rich after making a shit load of money.

however, much like many of the wealthy I know, they are unloading assets they dont use, or that can't give them Tax shelters. They know what storm is coming and rather light'n up the boat to prevent it from sinking. The rappers listed might be doing the same thing on the advice of their Finance Guy.

To bad the idiot sheeople of America can't grasp what they need to do.

we will see who has the last laugh, 50 Cent unloading property or Johny Pay Check with is never ending Debt load.
 
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