Jay Z and Beyonce have been dropping 150K a month to stay in a 16,000 square foot mansion in Los Angeles's exclusive Holmby Hills neighborhood.
They had been looking for a place to buy, but settled on renting when they couldn't find an abode that fit their needs.
Now they are (sorta) homeless after being outbid for the home.
Apparently, Hov didn't want to go over the $35.5 million the mansion's new owner just paid. But the power couple still wants to remain in the Holmby Hills area, where Blu Ivy is now enrolled in a school program for toddlers. So they are back on the house hunt.
This is the second time this has happened to Jay & Bey in LA. Last year they were outbid by a Swedish billionaire Markus “Notch” Persson for a home in Beverly Hills.
Persson reportedly ended up paying $70 million.
While some might see these real estate set back as Ls, we see them as financial maturity. The last thing you want to do is overpay and get stuck with more house than you can afford. (Cough, 50 Cent.)