Even Beyonce Knowles is feeling the crunch of the bad economy on real estate.
TMZ reports that the pregnant singer just sold off a piece of exclusive beachfront real estate in Miami at a 75 percent loss.
Knowles purchased the one room cabana, located at the exclusive Blue and Green Diamond Condominium complex, for $465,000 in 2002.
The singer unloaded the cabana in early November for $110,000 – a whopping $335,000 less than she originally paid.
Despite the huge loss, the real estate blow probably didn’t take too big a toll on Beyonce. She and husband Jay-Z recently landed the No.2 spot on Forbes’ wealthiest couples list in 2010.
The pair were recently spotted house hunting in Miami Beach.
Could a big purchase be in their future?
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