Kardashians In Financial Trouble?? Fam Has Over A HUNDRED MILLION In Home Loan Debt!
18.03.2023 - 00:19
/ perezhilton.com
The Kardashians own a lot of real estate. But is their property empire at risk of coming undone in this increasingly uncertain economic environment?
So claims a new report! On Friday afternoon, The US Sun revealed the presence of “massive home loans” and “huge amounts of borrowing” taken out by Kim Kardashian and the rest of her famous family totaling well over a hundred million dollars.
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Of course, it shouldn’t be a surprise the fam has home loans. Millions of people do! And it’s not even really a controversy that the loans are really, really large. After all, Kim and co make a ton of money, and they live in big houses. Proportionally, bigger houses get bigger loans. Right?
Well, the issue isn’t the presence of the loans themselves. It’s the amount and leverage in the context of the economy. Interest rates are shooting up at record rates, and inflation is quickly following higher and higher. In turn, the stock market and the economy are both slowing down. Real estate markets have tapered a bit, too — even around El Lay. And with Kris Jenner and the rest of her fam being leveraged to the gills on some of these properties, there is a risk it could all come crashing down if the value of the mortgages greatly exceed the price points of the homes.
As the outlet reported, Kim has mortgages out on a few different properties, including a $48 million mortgage on a Malibu pad she bought in September. She immediately began to renovate that one in a very expensive project, too, taking out loans as interest rates have risen fast. Sisters Kourtney Kardashian and Kendall and Kylie Jenner also have seven-figure mortgage borrowing amounts outstanding. But