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The World's Most Expensive House: A Whopping $500 Million!

Home prices are falling, people are getting foreclosed on. That's your world.

Then there's how the other 1/10th of one percent live. Russian billionaire Roman Abramovich has reportedly just boughtthe world's most expensive house. The 41-year-old oil mogul has--according to The National Post--put down, gulp, $500 million for a home in the French Riviera. A half. Billion. Dollars. For a house.

The home is called La Leopolda, apparently built by Belgium's King Leopold for his mistresses, but past owners include Bill Gates (wow, that's kind of going from one extreme to another--love lair to, well, Bill Gates' house). Abramovich also owns a $30 million home nearby. La Leopolda sits on ten acres and has the best views in Southern France. The Russian, who also owns the Chelsea Football Club, reportedly decided to buy the house after a private tour he took with his 25-year-old girlfriend. IMAGINE BEING THE GIRLFRIEND!!

Sounds like Abramovich paid cash for the villa, but if he had gotten a regular 80% mortgage, monthly payments would top $3 million, though I doubt the loan could be resold to Fannie and Freddie.

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Source: nationalpress.com

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