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John Paulson Having Trubs With The Housing Market

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John Paulson, who made a killing shorting the individual mortgages of down-on-luck friends out East, has been forced to slash the asking price of his Southampton home for a second time. The 6,800 square foot house, which the other Paulson bought in 2006 for $12.75 million, is now going for the bargain basement price of $13.9 million. Big P was originally hoping to get $19.5 million, but lowered his expectations to $16.9 million in September after the shack sat on the market for four months.

Hedge-Fund Guru Paulson Cuts House Price Once More
[WSJ via Cityfile]