Art and Turtle Lake 10-9-10

A lot of readers have been asking me where Art lives now. They want to know who inhabits the famous mansion on Lakeshore Drive. Not Art by a long shot. He still lives at his "fabulous" Turtle Lake estate in Bloomfield Hills. He paid $6.5 million for it a few years back. Like many overpriced Michigan "estates," it did not appreciate. In fact, it went down in value somewhat....okay...it went down in value A LOT! According to Zillow, the comprehensive website that puts a comparison value on just about every residence in the US, Art's "investment" is currently worth 2.4 million. That is assuming he could sell it if he wanted to. Which means he took a paper hit of 4.1 MILLION on the place thus far. There, now don't you feel better about the hit you took on your place? That'll teach him to buy on impulse. Ouch.