Britney Spears just sold her luxurious Calabasas, Calif., home for $10.1 million a mere eight months after buying it. It shows that the 41-year-old singer, once deemed the Princess of Pop, isn’t immune to the housing market’s correction, taking a $1.7 million loss with the sale, according to Variety’s real estate vertical, Dirt. She might well quote one of her big hits: “You’re toxic, I’m slippin’ under.” But a closer look at this transaction reveals a lot about housing prices in the luxury segment, in southern California, and in the country as a whole.
Spears purchased her former home for $11.8 million last summer after marrying trainer Sam Asghari, nearly a year after her decade-plus-long conservatorship was brought to an end, meaning this was one of the first major purchases she was able to make without court oversight. At the time of Spears’ initial purchase of the home, a source told People that it was important to Spears to have a “home that she picked up without having to ask for approval.”
