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December 2, 2008 7:25:35 PM CST



McMahon Home Woes Persist

Posted Aug 30, 08 6:16 PM CDT in US Arts & Living Business 

(Newser) – Ed McMahon’s money woes continued this week when the sale of his house fell through. The mystery buyer who had topped Donald Trump's offer "did not perform on a specific point of the contract," McMahon's realtor said—although Trump's bid is apparently still on the table. McMahon's plight may have a bright side, ABC News reports, because many Americans are learning that even stars suffer in today's economy.

Pop mogul Michael Jackson, boxer Evander Holyfield, and steroids slugger Jose Canseco have all endured housing woes. Americans are surprised that stars "are still living paycheck to paycheck," one real estate expert said—but one psychologist warns that many will refuse to believe it. "If they can make bad deals, then there's no hope for me as the normal person," she said.

Source ABC News

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McMahon on set with Jimmy Kimmel.   (AP Photo)
McMahon and wife Pam dish to Larry King on their financial troubles.   (AP Photo)
Ed McMahon.   (AP Photo)
Jose Canseco is another celebrity victim of foreclosure.   (AP Photo)
Evander Holyfield somewhat mysteriously saved his Georgia home.   (AP Photo)
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It's always surprising for those of us who are sort of in a nine-to-five working world to realize that even people who make millions of dollars are still living paycheck to paycheck, even if there are more zeroes.
- Rick Sharga, RealtyTrac

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