The world of Michael Jackson is in the usual chaos this week, as the pop singer faces foreclosure on his Neverland Ranch for $23 million secured by Fortress Investments.
This is 2700 acres in Santa Barbara. $8500/ac is what good ranch land goes for. Mikey's pad isn't a good ranch. As Wagga would say; "Good yeah, good place to lose a cow." On the plus side it has good water and good access and lots of durable improvements under the crap of zoo and amusement park. $23m is a deal in that context. I'm guessing it will be "rescued" by a friend so that the dirty public doesn't mess it up.