What do you do when you have a boatload of money and don't know what to do with it? You invest it in real estate! or possibly an actual boat. This seems to be the philosophy that Hollywood has been following for a while now.
Prominent celebrities like Ellen Degeneres and Leonardo DiCaprio are looking to step into the housing game, and they are doing it right. While DeGeneres has reportedly invested over 145 million dollars in a wildly successful venture, flipping high-end properties, DiCaprio has spent a fortune to buy his island and a few other properties off of the East and West Coast.
Do you think the market will experience the much-awaited upswing with more celebs like Ashton Kutcher, Brad Pitt, and Kanye West investing their resources in the real estate verticals? It also forces one to think if we are looking at a paradigm shift in the way entertainers are perceived in these business verticals. Also, thought-provoking is how such investments will affect the U.S. real estate market's existing mega players. Do you think we will see some significant competition in an already cutthroat market?
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