ROYAL FAMILY
Prince Harry and Meghan Markle face fierce financial blow as their mansion home’s value is slashed after LA fires
Prince Harry and Meghan Markle face fierce financial blow as their mansion home’s value is slashed after LA fires
This is the last thing they need right now.
After the brutal and devastating LA fires, many people are facing homelessness while others are facing damaged homes and harshly reduced property values — and long battles with insurance companies. Montecito-based former working Royals,
Prince Harry and Meghan Markle look set to face a fierce financial blow in the wake of the terrible wildfires, although that still makes them luckier than most.
The couple moved to their luxury Montecito mansion not long after their highly public split with the Royal Family, and it’s where they’ve lived and made their home while not on overseas trips and jaunts. The mansion is the very definition of deluxe celebrity living and boasts a luxury feel in an exclusive setting. Unfortunately for the Sussexes, the surrounding destruction from the Palisades Fire has wiped up to $2.5 million from the plush pad’s valuation despite it coming through the blaze untouched.
Speaking in an exclusive interview to GBNews, property expert Terry Fisher explains that property valuations in high-risk areas like Montecito can suffer massive hits to their valuation to the tune of 10% thanks to a range of issues including increased insurance premiums and fears of further disasters in a real estate market that’s lost confidence.
This isn’t the only bad financial news the couple has faced in recent weeks. Despite winning his long-standing legal battle with the News Group Newspapers and walking away with a cool £10 million, legal fees and U.S. tax rules may prove a headache for the victorious prince. The pair is also reeling after a scathing
casting them in a very bad light. But bruised egos and lightened wallets aside, it’s not all bad news. The Sussexes have — unusually — received praise and compliments for their actions during the LA fires amid the braying calls of their detractors, and even their financial woes have a silver lining.
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