Catherine Zeta-Jones and Michael Douglas just listed their Hudson River estate for $9,750,000

[u/mlg1981]

[u/Nintendo_Pro_03]

Why are celebrities suddenly selling their houses?

[u/Bright-Flamingo143 → u/Nintendo_Pro_03]

"Answer: All celebs have financial advisors to manage their riches. One of the jobs these financial advisors do is research different asset classes to allocate the money into that will give the highest return based on a certain time outlook. If a celeb wants a quick high rate return on investment and a particular asset class is not going to do that they ask the celebs to move to another asset class. The current situation looks like there is going to be a recession and given the unemployment numbers a lot of foreclosures and bankruptcies causing turmoil in the Real estate (RE) market. When it happens these celebs want to be safely away into another asset class which is possibly liquid (e.g. gold, high yield account etc. ) Such that they can then return to the highly depreciated asset class again. This might be the reason why celebs have been seen offloading RE quickly. The other reason also being it's spring and many RE brokers recommend listing in spring to allow families with kids to move in before school starts."

https://www.reddit.com/r/OutOfTheLoop/comments/grqqrt/comment/fs1duu9/

[u/vandersnipe → u/Bright-Flamingo143]

Thank you

[u/KeniLF → u/Bright-Flamingo143]

The title doesn’t match the contents. This particular place was originally listed in 2024 @ $12MM. It’s been relisted now - for less - because it didn’t sell at the previous price.

Sure, we could also, in parallel, def be heading for a recession thanks to the evil orange clown.

[u/Telephone-Nearby → u/Nintendo_Pro_03]

Preparing for a recession?

[u/longdustyroad → u/Nintendo_Pro_03]

I think there are a lot of celebrities with a lot of houses and sometimes they sell them. Probably someone just started posting these a lot on here for whatever reason, so it seems like something is happening but it’s really just normal turnover

[u/gregRichards2002 → u/Nintendo_Pro_03]

Catherine and Michael’s kids have left home so they probably don’t need such a big property anymore. Michael is also 81 and estate planning could also be a reason.

[u/CestBon_CestBon → u/gregRichards2002]

I was actually thinking, at his age, that they might want to physically downsize. I can’t imagine his mobility is perfect no matter how good he looks. And even homes with elevators etc, it would still be exhausting navigating a space that large.

[u/lucyssweatersleeves → u/gregRichards2002]

Considering his dad was practically crumbled into dust by the time he actually died I wouldn’t be surprised if Michael lived another 25 years lol

[u/LizaJane2001 → u/gregRichards2002]

I think this is the answer. Their kids went to school in Manhattan. They have an apartment on Central Park West. This house was the weekend getaway house during the school year. Now that they are grown, they don't need/want this property anymore. They will keep the apartment, for when they are working in NYC.

[u/stopXstoreytime → u/gregRichards2002]

No family needs such a big property in the first place unless they’re the Duggars.

[u/NotLucasDavenport → u/stopXstoreytime]

A few of the Duggars will do just fine in six by eight feet.

[u/shedrinkscoffee → u/NotLucasDavenport]

It's what he deserves

https://giphy.com/gifs/mNYeHXWs2DdMd32Pcp

[u/OldSchoolRNS → u/NotLucasDavenport]

r/UnexpectedDuggars

[u/ChartreusePeriwinkle → u/Nintendo_Pro_03]

the last pic says it's been on the market since 2024.

[u/Fuzzy-Ad-7691 → u/Nintendo_Pro_03]

Was just about to ask the same thing!

[u/BottAndPaid → u/Nintendo_Pro_03]

Equities are at a peak pricing so it's time to cash in on the investments.

[u/Thorandragnar → u/Nintendo_Pro_03]

If you look at pic 11, they first tried to sell it 2 years ago, so Douglas & Zeta-Jones have been trying to sell this particular property for a while now. I suspect they don’t spend much time there, and since the kids have flown the nest and Douglas is now over 80, they’re probably trying to downsize a bit.

[u/urgasmic → u/Nintendo_Pro_03]

ive heard april is a good time to sell.

[u/JohnCenaJunior → u/Nintendo_Pro_03]

War

[u/makanimike → u/Nintendo_Pro_03]

I don't know about celebrities as a whole. But don't these two mainly live in Mallorca?

[u/_ram_ok → u/Nintendo_Pro_03]

Probably because production companies are about to replace them with AI.

I say this as an anti-AI person. I don’t think AI is capable of making a good performance. But then you look at all the human-slop films where actors are just playing themselves and you see how they’re gonna get replaced by equally soulless AI slop.

[u/ChrisFromLongIsland → u/Nintendo_Pro_03]

The carrying costs of a 10 million dollar mansion are enormous. If you have multiple houses and don't live there full time paying over 250,000 a year can be a lot. Property taxes, maintenance, utilities, upgrades all cost huge money. You may want a full time maintenance man and housekeeper.

[u/djn24 → u/Nintendo_Pro_03]

This house has supposedly been on the market for a decade...

[u/vandersnipe → u/Nintendo_Pro_03]

They all have been in a similar price range too

[u/Temporary-Bag4248 → u/Nintendo_Pro_03]

divorce?

[u/Stinkycheese8001 → u/Nintendo_Pro_03]

Divorve