Cash Crunch: Olivia Newton-John Swaps $5.6M Waterfront Mansion For ‘Social Housing’ Condo!
Dec. 6 2014, Updated 7:33 a.m. ET
Olivia Newton-John is turning her back on the love nest she was once “Hopelessly Devoted” to and moving into a two-bedroom condo for “low income folks.”
According to The National ENQUIRER the Grease actress is downsizing from the waterfront home she bought for $4.1 million five years ago.
Olivia, 66, splashed out on the ritzy house shortly after marrying husband John Easterling.
But it has turned into a money-pit that they can’t seem to sell even though they invested $2 million into it.
- 'Diddy' Heard for First Time Behind Bars During Emotional Birthday Call: Jailed Rapper Praises His Kids' 'Strength'
- Joe Exotic Dumps Fiancé: Caged Tiger King Star Proposed to 33-Year-Old Jailed Mexican Gangbanger Lover Behind Bars
- Tragic One Direction Singer Liam Payne Dead Aged 31 After Horror Hotel Balcony Plunge: Celeb Tributes Pour In as Images Emerge of Smashed Up Hotel Room Strewn With White Powder and 'Drugs Foil'
DAILY. BREAKING. CELEBRITY NEWS. ALL FREE.
Now the actress has reportedly paid $550,000 for a two-bedroom Florida apartment that one insider described as “social housing for low-income folks.”
To read why Rosie O’Donnell allegedly refused to buy Olivia’s waterfront mansion, pick up the latest copy of the ENQUIRER.