Adele did not go easy on Sylvester Stallone when she purchased his Beverly Park mansion for $58 million last year.
The “Rocky” and “Creed” star revealed Monday in the Wall Street Journal that the “Hello” singer agreed to buy the property on one unique condition: She insisted that his bronze statue of Rocky Balboa remain at the house.
Stallone admitted that he wanted to take the poolside sculpture of the fictional boxing champion punching the air with him, but Adele said, “That’s a no deal. That’s gonna blow the whole deal.”
“She wanted the statue,” the “Tulsa King” actor added.
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When the Oscar nominee sold the luxurious 21,000-square-foot home to the Grammy winner in February 2022, it marked the priciest Southern California transaction of the year up to that point. And Adele apparently bought it for a steal after Stallone originally listed the estate in January 2021 for $110 million.
At the time of the sale, the mansion — which sits on 3.5 acres of land with views of the city below — boasted eight bedrooms, 12 bathrooms, a two-story foyer, a pool, a putting green, multiple patios and terraces, a movie theater, a custom bar, a gym and a cigar room with an air-filtration system. Adele has since made some renovations — and the previous owner approves.
“I like what she’s doing,” Stallone told the Wall Street Journal, “she’s making it gorgeous.”
During a 2021 interview with Vogue, the “30” artist shared that she is a big fan of the “Rocky” movies that Stallone wrote and starred in, which could explain her affinity for the statue. In May 2022, she posted a photo of herself and her rumored fiancé, Rich Paul, posing in front of their new digs.
The “Rolling in the Deep” hitmaker, 35, and the sports agent, 41, sparked engagement rumors in winter 2022 after dating less than a year. But Adele, who divorced philanthropist Simon Konecki in March 2021, has refused to confirm or deny that she and Paul are betrothed.
“If I was [engaged], would I ever tell anyone if I was or wasn’t?” she told Irish talk-show host Graham Norton in February 2022.
But that doesn’t mean she’s opposed to oversharing.
Over the weekend, the singer returned to the stage as part of her Las Vegas residency and disclosed an uncomfortable side effect of performing for hours every weekend under a burning spotlight.
“When I do my shows, I wear Spanx,” she told the crowd. “And I sweat a lot, but it doesn’t go anywhere, so I’m basically just sitting in my own sweat. So my doctor gave me jock itch [cream]. Do you guys know what that is?”
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She proceeded to joke that the physician’s diagnosis makes her “an athlete, basically,” before acknowledging (too late) that sharing her personal hygiene woes might qualify as TMI.
“I have to squirt it on myself,” she continued. “I don’t know why the f— I just told you guys that.”
Times staff writer Jack Flemming contributed to this report.
Growing up in Orange County in the late 1970s, KL DeHart often wandered the Westminster Mall with her mother, checking out the latest fashions and seeing what movies were playing.
As a teenager, she spent many weekends there with friends playing pinball and skeeball at the arcade and shopping for trendy Chemin De Fer jeans.
Now, the mall is pocked with empty storefronts. At the remaining businesses, employees eagerly jump to help the few customers passing through.
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What may rise in its place, if developers and city officials have their way, is a new kind of mall, one that will include lawns, walking trails and thousands of apartments.
“It was the hip place to be, and it’s really faded out, but it’s just sad to see it go,” said DeHart, a 55-year-old massage therapist who still lives near the mall, in the house she grew up in. She is among the residents worried that the new apartments will increase traffic while doing little to solve the region’s affordable housing crisis.
In Orange County, the San Fernando Valley and suburbs throughout America, the mall was a gathering spot where there were few other places to hang out. It was where kids stocked up on the latest fashions and roamed in packs after school, spawning the term “mall rat.”
The 1980s cult classic “Fast Times at Ridgemont High” began and ended at the mall where the teens worked. In the 1995 film “Clueless,” a Beverly Hills teen retreated to the mall, which she described as a “sanctuary,” after failing to persuade a teacher to boost her grade.
Now, teenagers text with their friends and make TikTok videos. Their parents are more likely to shop online than at a brick-and-mortar store.
At the same time, Orange County is desperate for housing, with rents and home prices escalating and state laws requiring cities to zone for new construction. In a region where there is little undeveloped land and neighbors are likely to push back at new housing, some see declining malls as ideal places to build.
The Westminster Mall is “probably one of the largest areas of developable space that still exists in our time in this area,” City Manager Christine Cordon told the City Council during a meeting last November.
Cordon remembers taking the bus to the mall decades ago to pick out CDs at Best Buy.
“You’re too young as a teenager to hang out in an actual nightclub, so back in the day, where would you go? The mall,” said Karen North, a USC professor who specializes in social media and psychology.
“It became this default place to go because it had something for everybody. You never knew who you were going to bump into, but you were always guaranteed there was something going on and there would be people around.”
As envisioned in a plan adopted by the City Council last year, the new mall would contain at least 600,000 square feet of retail space. It would include up to 3,000 residential units and up to 425 hotel rooms, surrounded by a park with 17 acres of green space.
Teenagers could still hang out there — it just wouldn’t be the echoey indoor turf that Alicia Silverstone claimed in “Clueless.”
Orange County is catching on to a trend that has already taken hold farther north in the Los Angeles area, led by developer Rick Caruso with his Americana at Brand and Palisades Village malls and residences.
“This is really our opportunity to create something that we can be absolutely proud of for the next generation to create those same fond memories that I have and that others have in a fashion that is consistent with what the times are now,” Cordon said.
Bill Shopoff said his company, which purchased the Macy’s store and the former Sears store in the Westminster Mall last year, hopes to draw people back with shops, a hotel, townhouses and apartments.
Upscale malls like South Coast Plaza are thriving because “they have entertainment, food, there’s a reason to go there,” said Shopoff, president and CEO of Shopoff Realty Investments. “I think we need to do that in Westminster to create a sense of something.”
As for who will rent or purchase the homes in his preliminary plan, Shopoff is counting on a modern type of suburban dweller — one who would rather walk to restaurants and other amenities than live in a single-family home with a yard.
Experts say that new laws, along with increased pressure from the state to build more homes, have convinced some local officials who might have been resistant to rezoning commercial properties in the past.
Roughly every eight years, California cities are assigned a certain number of new housing units they’re required to zone for. As part of the 2020 assessment, Orange County needs to make space for about 183,000 new units, shared among all its cities.
Last year, Gov. Gavin Newsom signed two pieces of legislation aimed at spurring housing development in corridors otherwise zoned for large retail and office buildings.
“Whether you want to call Orange County urban suburbia or suburban urbanism, it’s definitely shifting,” said Elizabeth Hansburg, co-founder and executive director of People for Housing Orange County. “We have an interesting mix of historic districts and tract housing of the ’40s, ’50s, ’60s and even the ’70s, but I don’t see us building like that again. It’s going to be interesting to see how families evolve in denser spaces.”
Elsewhere in Orange County, similar mall conversions are at various stages.
In Santa Ana, a 309-unit apartment complex is under construction on the parking lot of the Mainplace Mall, part of a larger project that will include more apartments, restaurants, courtyards and a music venue.
Simon Property Group has said it is open to adding residential zoning to its mall in Mission Viejo. In Brea, the company has proposed redeveloping 15.5 acres of the mall to include shops, a resort-style fitness center, apartments and a large central green space.
A proposal to redevelop the Village at Orange mall to include housing along with retail has run into stiff opposition. Residents are voicing concerns about tall residential buildings looming above nearby single-family homes.
In Westminster, DeHart said that she and her neighbors who live in tract homes adjacent to the malls are not “NIMBYs” — an acronym for “Not In My Backyard.”
“That’s not what this is,” she said. “We’re asking legitimate questions, and we’re not getting answers.”
In Laguna Hills, the mall is being repurposed along the lines of Caruso’s Los Angeles-area developments, with up to 1,500 apartments, an upscale hotel, commercial office space and 250,000 square feet of stores surrounding a large green space.
On a recent day, a chain-link fence wrapped with a blue tarp surrounded the partly demolished main building, with the “Laguna Hills Mall” lettering barely legible.
A sign affixed to the fence featured a rendering of the new homes, asserting that “a brighter future is coming soon.”
Residents have voiced concerns similar to those of DeHart and her neighbors — traffic, overcrowding. But Laguna Hills Mayor Janine Heft said a change is needed.
“There’s a lot of nostalgia for what the mall used to be,” Heft said. “What we didn’t want was a blight, and that’s really what we had. We had this mall that hadn’t been kept up in years.”
On a recent afternoon, most of the sprawling Westminster Mall was deserted. The only activity was at an indoor playground near JCPenney.
Corrie Essex watched her 5-month-old son playing on a blanket as rain pounded on the glass ceiling.
She grew up in the San Fernando Valley and recalls listing the Northridge Mall as one of her favorite places in an elementary school assignment. Her mother took her and her siblings there to get burgers and go to the movies — a relatively inexpensive way to keep four kids occupied.
“We’d go all the time,” said Essex, 30, who now lives in Huntington Beach. “It was fun. Now, I hate the mall. It’s just not the same. Nothing’s beautiful anymore.”
But on a rainy day like this one, it was a good place to take her son. And, noted her sister, 27-year-old Jessie Lane, there’s little danger of spending money — “it doesn’t have any bougie stores that we would want to buy anything from.”
Their mother, 57-year-old Rachel Lane, said she likes the idea of adding housing to malls.
But with the new outdoor designs, she wondered, “Where are we going to go when it rains?”
HSBC is raising mortgage rates for the second time in a week, a move expected to be copied by other lenders that will ramp up the financial pressure on UK households and the political danger for prime minister Rishi Sunak.
Brokers warned that other UK lenders would follow HSBC’s decision on Wednesday, exacerbating the cost of living crisis ahead of an election next year.
Moves to withdraw or reprice mortgage deals have increased in recent weeks as the financial markets react to stubbornly high inflation data, which has changed expectations of how far the Bank of England will have to raise interest rates.
The issue dominated exchanges at prime minister’s questions on Wednesday, with Sunak insisting the government’s “number one priority” was cutting inflation and bearing down on interest rates.
But Sir Keir Starmer, Labour leader, claimed Sunak was distracted by political infighting in the ruling Conservative party at a time when people were worried about “their bills, the cost of the weekly shop and spiralling mortgage rates”.
HSBC, one of the UK’s largest mortgage lenders, said it would withdraw rates for new residential mortgages offered through brokers by 5pm on Wednesday, before announcing new prices on Thursday. Last week the bank wrongfooted mortgage brokers by pulling its deals at short notice before repricing earlier this week.
“Over recent days, cost of funds has increased and, like other banks, we have had to reflect that in our mortgage rates,” it said.
Lenders fear that volatility in swap rate markets — which they use to price their fixed-rate mortgages — will leave them exposed. Adrian Anderson, director at broker Anderson Harris, said he was “confident other [lenders] will follow shortly”.
Andrew Montlake, managing director at broker Coreco, said HSBC was unlikely to be the last lender to raise rates this week. Having withdrawn and repriced its rates to allow it to process a flood of applications, he said “swap rates have moved again and they’re still getting lots of business, so they’ve had to move them up again”.
Simon Gammon, founder and managing partner at broker Knight Frank Finance, said: “They’re nervous about lending at a loss.”
The issue of rising mortgage costs is becoming increasingly political. Fears among Tory MPs about a “mortgage time bomb” contributed to the ousting of Liz Truss as prime minister last year, after her “mini” Budget spooked markets and pushed up interest rates.
Labour is attempting to conflate the Truss economic disaster with the current rise in mortgage rates, suggesting a pattern of Tory economic mismanagement. Sunak insisted the situation now was completely different and the economy was “resilient” and inflation was falling.
Earlier on Wednesday, chancellor Jeremy Hunt said tackling inflation was the “number one challenge” and said the BoE had “no alternative” but to raise interest rates to tackle it. “We have to do everything we can as a government, as a country, to support the Bank of England in their mission to squeeze inflation out of the system. And that is our primary focus.”
On Monday, Santander said it was temporarily withdrawing all of its fixed and tracker mortgages for new borrowers “in light of changing market conditions”. Clydesdale Bank, NatWest and Coventry Building Society were among lenders that raised rates across their home loans portfolio this week.
BM Solutions, a specialist buy-to-let lender that is part of Lloyds Banking Group, said on Wednesday it would withdraw rates across its range on Thursday evening, and return with higher prices from Friday.
The average interest rate on a two-year residential fixed product hit 5.9 per cent on Tuesday, up from 5.26 per cent at the beginning of May, according to finance site Moneyfacts. A year ago, rates on two-year fixed mortgages were averaging 3.25 per cent.
The rise in the cost of borrowing is already being felt by estate agents. “It is not starting to hurt yet,” said Matthew Leonard, director at estate agent Winkworth in Bath, but added that the sales market was “definitely quieter” in recent weeks.
This article has been amended since original publication to clarify that the 5pm Wednesday withdrawal of rates on new HSBC residential mortgages was for those offered via brokers
Here’s everything you need to know about rising mortgage rates and whether they will fall in the future.
Why are mortgages going up?
Rising interest rates mean it costs more to borrow money from banks and other lenders, while people who save money in banks receive more interest for putting their money into accounts.
The Bank of England says it is increasing interest rates to bring inflation down but it takes time to work, usually up to two years.
The idea is that higher interest rates mean less money is being spent in the UK and that brings down the overall spending in the economy and slows price rises down.
As mortgages are a type of credit, they are affected by rising interest rates.
However, not all mortgages are affected. People who have a fixed-rate mortgage will be largely insulated from interest rate rises until the fixed rate comes to an end and a new one needs to be negotiated.
People on tracker mortgages are more susceptible to interest rate rises because they follow the base rates set by the Bank of England.
Many mortgage lenders already put up fixed-rate mortgages for new customers ahead of the interest rate, according to Rightmove’s mortgage expert Matt Smith.
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The property expert said the average interest rate for a five-year fixed 85% mortgage rose from 4.44% to 4.52% ahead of the BoE announcement. That works out at an extra £14 a month for someone purchasing a typical property and spreading the cost over 25 years.
Smith said people on tracker mortgages may be hit harder by the BoE’s decision to raise interest rates.
The Rightmove expert said: “Those on a tracker mortgage will be more disappointed with the news, as they may have thought that the base rate had peaked in March given some of the positive signs for the wider economy, and this is another cost they will need to factor into their monthly budget when the full rate rise is passed on.”
The rise in interest rates has seen the housing market slow down with the number of transactions and mortgage approvals declining in April 2023.
There were 82,120 property transactions in the UK in April, according to HMRC’s seasonally adjusted figures. That represented an 8% drop compared to March while also a quarter down on April 2022.
Mortgage approvals also plunged. There were 48,690 mortgages given the greenlight in the UK in April 2023 according to the Bank of England’s statistics. That figure is 5% lower than in March and more than a quarter lower than a year ago and levels seen between 2018 and 2019.
How high will mortgage rates go in the UK?
It’s impossible to say how high interest rates may go without the aid of a crystal ball but the Bank of England has given some indication of how it expects things to progress in the future.
The central bank has targeted getting inflation down to 2% by the end of 2024 – it is currently at a “higher than expected” 8.7%.
BoE forecasts predict that interest rates will peak at 4.75% at the end of 2023 before falling to around 3.5% by 2025.
But while inflation remains high, there is the possibility of interest rates rising to counteract it and that could mean a 13th consecutive monthly rise might be on the cards in June.
In fact, stubborn inflation rates mean rises could continue for a while yet.
Are mortgage rates coming down in 2023?
With interest rates set to remain high until inflation starts to fall, that could see mortgage rates continue on an upward trajectory.
Rightmove’s Smith said: “Looking ahead, if the Bank of England outlines a positive view on the prospect for inflation and base rates, we could see mortgage rates fall, as they have done after recent base rate decisions. But if the bank is more cautious, we can expect rates to continue their upward trend in the short term.”
However, the bad news for people paying off mortgages is that a lot of the pain could still be to come.
Think tank Resolution Foundation said two-thirds of the eventual £12 billion increase in annual mortgage costs across Britain may still yet to be passed on.
That’s because fixed-rate mortgages have become more popular in recent years – the think tank said fixed-rate deals accounted for £4 out of every £10 spent before the financial crisis but now £9 out of every £10 lent is at a fixed rate.
Mortgages that are at a fixed rate for five years also became the most popular product between 2016 and 2022, overtaking two-year fixed mortgages.
more mortgage pain to come,” said Simon Pittaway, a senior economist at Resolution Foundation.
In fact, inflation figures in April suggested rising interest rates will continue. Inflation in the year up to April was 8.7% and although that was down from the 10.1% recorded in March it was still higher than expected. Financial analysts had reportedly anticipated inflation to fall to 8.2%.
That led to predictions the Bank of England could raise rates to as high as 5.5% in a bid to control inflation.
Kellie Steed, Uswitch’s mortgages expert, said: “While many experts thought that the series of consecutive Bank of England base rate rises were ending, more recent analysis suggests that it will reach 5.5% by the end of the year, with no signs of rates beginning to fall until at least February 2024.
“It’s clear that both recent and anticipated future base rate lifts, as well as increased swap rates, have already been factored into many lender’s rate decisions, with Nationwide, Halifax, Santander, Virgin Money and Atom mortgages all pushing up their fixed rates over the past few days.”
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What support is available if you’re struggling to pay your mortgage?
Rising mortgage payments may not be something that every household can absorb, particularly with the wider cost of living crisis driving up other costs.
If you are struggling to pay your mortgage, the first thing you should do is contact your lender to discuss your options.
If you are receiving universal credit or other benefits, you may be able to get a Support for Mortgage Interest Loan to help you cover rising interest payments. This is from the Department for Work and Pensions (DWP) and you have to repay the loan when you sell the property.
Additional support is available in Scotland through the Home Owners’ Support Fund. This is based on two schemes – the Mortgage to Shared Equity scheme will see the Scottish Government buy a stake in a property to reduce the loan while the Mortgage to Rent scheme allows a social landlord to buy a property and rent it back.
Around one in seven mortgage holders who seek help from StepChange are in arrears on their mortgage, the debt charity said.
“The situation is becoming increasingly precarious for many people and widespread problem debt is a risk, particularly for financially vulnerable households,” said Vikki Brownridge, chief executive of StepChange in a call for firms to be “proactive” in supporting people who are struggling to pay.
“For anyone worried about housing costs and their ability to cover payments, it’s important to reach out for help as early as possible, whether that’s through contacting their lender, or a free debt advice charity like StepChange.”
If you are struggling to pay, support from StepChange and other debt charities is available or you can call the National Debtline on 0808 808 4000 or contact Citizens Advice for advice.
Do you have a story to tell or opinions to share about this? We want to hear from you. Get in touch and tell us more.
The “Wave House” — one of the most iconic homes on the California coast — just hit the market for $49.5 million. It’s the first time the architectural gem has surfaced for sale in 36 years.
Deriving its name from the cresting rooflines that mimic the wavespitching on the beach just below, the striking structure was built in 1957 by Harry Gesner, the late architect known for designing one-of-a-kind residences along the coast and the mountains above it. Gesner died last year in Sandcastle, another iconic home he designed for himself that sits right next to the Wave House.
He built the idiosyncratic abode for his friend and fellow surfer Gerry Cooper. In 2016, Gesner told Curbed that he drew up the design for the home on a surfboard using a grease pencil.
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“I wanted the house to have the look of a giant wave at the peak of its strength,” Gesner said in Lisa Germany’s book, “Houses of the Sundown Sea: The Architectural Vision of Harry Gesner.”
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The living room. (Simon Berlyn)
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The entry. (Simon Berlyn)
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The dining room. (Simon Berlyn)
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The deck. (Simon Berlyn)
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The deck at night. (Simon Berlyn)
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The exterior. (Simon Berlyn)
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The beach. (Simon Berlyn)
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The coastal home. (Simon Berlyn)
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Aerial view of the property. (Simon Berlyn)
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The ocean. (Simon Berlyn)
Pop star Rod Stewart bought the home in the 1970s and sold it in 1987 to record executive Mo Ostin, the Warner Bros. mogul who worked with artists such as Jimi Hendrix and Stevie Nicks. Ostin also died last year, and his family trust is handling the sale.
The home is a Modernist masterpiece, a reflection of the seaside setting that surrounds it. Drawing inspiration from natural forms, it boasts eccentric archways, rounded decks and walls of glass overlooking the ocean. Inside, a sunken conversation pit is anchored by a floor-to-ceiling fireplace under whitewashed beams.
Real estate records show the home has six bedrooms and seven bathrooms across 6,208 square feet. Other highlights include a landscaped entryway and stone courtyard.
Ostin made a few changes during his stay, brightening the living spaces with shades of blue, turquoise and white to match the seaside setting. He also swapped the pebble roof for copper shingles, which have since taken on a natural patina that matches the coastal color palette.
“The space takes your breath away, but at the same time, you feel relaxed,” said Dena Luciano of Douglas Elliman, who shares the listing on the property. “It’s stunning.”
She added that in its prime, the home served as a gathering place for big names in the music industry. More recently, it appeared in the 2019 film “Yesterday.”
Luciano holds the listing with Drew Fenton of Carolwood Estates and Compass agents Chris Cortazzo and Harry Gesner’s son, Zen Gesner.
If it sells, it’ll be the latest recent blockbuster deal in Malibu. In May, Jay-Z and Beyoncé dropped $200 million on a compound eight miles up the coast, setting the all-time price record in the state of California.
You don’t have to wait six months to close your first deal! Today’s guest, Logan Walter, is a listener who has only been a full-time Realtor for eight months. Despite the fact that he hasn’t been in real estate long, he’s already closed 21 deals, including a million-dollar deal with one of the first people he told about his new career. How did Logan do it? He followed the three Cs. Listen to today’s podcast and discover why clarity, character, and competency are essential to a new agent’s success.
Listen to today’s show and learn:
About Logan Walter [1:34]
Logan’s start in real estate and his love for Real Estate Rockstars [2:03]
Why Logan decided to get into real estate [4:50]
Closing 21 deals as a new real estate agent [6:29]
Logan’s first day in real estate [7:25]
Simple real estate scripts for FSBOs and expireds [10:17]
Reaching out to friends and family after starting a career in real estate [15:53]
The video that helped Logan close his first seven-figure deal [17:38]
Logan’s first real estate deal: a land sale [20:23]
Logan’s sales stats and splits [21:22]
Examples of phone calls and door knocking paying off [23:40]
What’s working for lead generation in Dallas right now [25:54]
The hours a new agent can expect to work [28:32]
Strategies for winning clients from canceled listings [30:31]
The three Cs for success in real estate [35:30]
Where to find and follow Logan Walter [38:15]
Logan Walter
Prior to becoming a real estate agent, Logan worked in full-time ministry at churches in Richardson, Austin, and Frisco. As a minister, he focused on building relationships and meeting peoples’ needs, and as a real estate agent, that focus has not changed.
Logan’s mission is to understand his client’s real estate goals, and then work hard to help them achieve those goals. Over the past 25 years, Logan has lived and worked in Tarrant, Dallas, Collin, and Denton Counties and is happy to help people buy and sell properties all over the Dallas-Fort Worth metroplex.
Logan and his wife Maddie currently live in Frisco, TX with their three kids: Simon, Clark and Sylvia. When he’s not talking about real estate, he is often discussing music, sports, books, and movies. His favorites include The Beatles, The Dallas Mavericks, Dune, and The Princess Bride.
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Thank You Rockstars!
It might go without saying, but I’m going to say it anyway: We really value listeners like you. We’re constantly working to improve the show, so why not leave us a review? If you love the content and can’t stand the thought of missing the nuggets our Rockstar guests share every week, please subscribe; it’ll get you instant access to our latest episodes and is the best way to support your favorite real estate podcast. Have questions? Suggestions? Want to say hi? Shoot me a message via Twitter, Instagram, Facebook, or Email. -Aaron Amuchastegui
From hiring a video arcade on wheels to treating 10 little princesses to a spa day, today’s birthday parties have gone next level. You could easily drop $500-plus on your kid’s next shindig.
Fortunately, you don’t have to. It’s possible to host a fun and memorable birthday celebration for friends and family without breaking the bank.
Here are some inexpensive party ideas to consider when planning your next birthday bash.
1. Being Selective with the Guest List
As tempting as it might be to invite everyone in your child’s class or the whole soccer team, limiting the guest count is a simple way to save money on a birthday party.
Less people means less food, less party supplies, and fewer favors — but not necessarily less fun. It’s possible to have a close knit vibe at a birthday party that gets people talking to each other and enjoying themselves even more than they would have at a big event.
If your child is willing to invite only one or two friends, you might consider skipping a party altogether and opting for an experience. Going bowling or spending a couple of hours at a play space, zoo, or museum can suddenly become an affordable option.
2. Sharing the Party with a Friend
If your child’s birthday falls around the same time as one of their close friends, you might want to consider teaming up and having a dual birthday party.
This enables you to share the costs and responsibilities with another family and, if the kids have a similar friend group, it would not necessarily have to be a much larger party. It can be a good idea, however, to make sure each child gets their own cake and presents.
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3. Choosing a Cheap (or Free) Venue
While hosting a party at a local climbing gym or other entertainment venue can be appealing, you can end up dropping as much as $350 just for the space.
One way to throw a birthday party on a tight budget is to have the party at home. That said, the wear and tear on your floors and furnishings might not be worth the savings. In good weather, however, a backyard party can be a great, low-cost option. Or, you might consider having the party in a local park or garden.
If your child’s birthday lands in a cold weather season, you can save money on a venue by limiting the guest list and going with the most basic package (such as just food and drinks for each child), and providing your own cake and goody bags. You can also check deal websites for discounts and promotions or ask the venue about a discount for having the party at an off-peak time or day.
Recommended: 10 Tips for Spending Your Money Wisely
4. Sending Digital Invites
Skipping the paper and going with digital invitations can be kinder to the environment and also cut down on birthday party costs, since you won’t have to buy premade invites or stamps.
You can design your own digital invitation and send them via email or text, or you may want to take advantage of one of the many online (and free) e-invitation sites.
Recommended: 15 Creative Ways to Save Money
💡 Quick Tip: Tired of paying pointless bank fees? When you open a bank account online you often avoid excess charges.
5. Getting Creative With Decorations
One of the best things about the internet is that somebody’s probably already created precisely what you need. Rather than drop a chunk of money at the party store on themed decor, you may want to check out Pinterest for free printables.
You can also find ideas for DIY decorations on Pinterest (along with many other sites) using low cost supplies, possibly even things you already have on hand. Dollar stores can also be great places to shop for decorations and supplies.
If you do hit the party store, you may want to consider going with just one or two premium themed items and keeping the rest of the decor colorful and fun.
Recommended: How to Have a Baby Shower on a Budget
6. Making a Semi-Homemade Birthday Cake
A custom bakery cake that serves just 15 to 25 people can run over $50, while a cake large enough for over 35 guests can easily run more than $70.
A cheaper option is to buy a cake mix, then make it look and taste homemade with a few simple baking hacks, such as swapping butter for oil and milk for water, adding an extra egg, and making your own buttercream frosting.
To make cupcakes that look like they came from a bakery, you can pipe icing on top using a ziplock bag with a tiny hole snipped in the corner.
7. Timing the Party Right
If the party takes place during lunch or dinner time, there’s a good chance people will expect to be fed a meal.
Choosing an off-time to celebrate — such as 10:30am or 2:30pm — means you can steer the party away from heartier, and costly, fare (like freshly delivered pizzas or a sandwich platter) and stick to serving finger foods and snacks instead.
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8. Buying in Bulk for Gift Bags
If you’ll be giving each guest a swag bag, consider buying toys and trinkets in bulk sets and then dividing them up. This can be a real cost-saver when compared to purchasing items individually (even at the dollar store).
Fun items like paper airplanes, wooden yoyos, squishy toys, stampers, fidget spinners and Slinkys can often be purchased in packs at stores as well as online.
💡 Quick Tip: When you feel the urge to buy something that isn’t in your budget, try the 30-day rule. Make a note of the item in your calendar for 30 days into the future. When the date rolls around, there’s a good chance the “gotta have it” feeling will have subsided.
9. Playing Some Free Games
You don’t necessarily have to rent a bouncy house or hire live entertainment to keep a birthday party lively and fun. There are a number of inexpensive ways to make sure there is plenty of action, activity, and laughter. Here are a few fun, free games you might consider:
• Duck Duck Goose
• Charades
• Musical Chairs
• Red Rover
• Rock Paper Scissor Tournaments
• Three Legged Races
• Marco Polo (you can even play on land)
• Hot Potato
• Simon Says
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The Takeaway
It can be tempting — and easy — to spend a lot creating a memorable birthday party. But with just a few cost-cutting strategies, such as trimming your guestlist, shifting the time of the party, choosing an inexpensive venue, and organizing some free games, you can throw a festive birthday bash without breaking the bank.
You can also make birthday celebrations more affordable by setting a budget and saving up in advance.
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In 2022, Southern California real estate once again lived up to its reputation as one of the weirdest, wildest, most dramatic markets in the country.
While the lower end of the market cooled as interest rates forced buyers and sellers to rethink their strategies, the luxury market raged on with significantly more blockbuster sales than last year.
Celebrities, tech moguls and CEOs spent fortunes on their dream homes. Battles were waged over the profits of mega-mansions. Here are the top sales of the year.
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$58 million
Sylvester Stallone kicked things off by selling his 21,000-square-foot mega-mansion in Beverly Park for $58 million — a blockbuster deal, but not quite a knockout for the “Rocky” star, who originally wanted $110 million for the trophy home.
The high-profile sale included a high-profile buyer: pop star Adele. She joins a bevy of stars in the affluent enclave including Denzel Washington, Magic Johnson and Mark Wahlberg.
$70 million
Michael Rubin, the chief executive of sports e-commerce company Fanatics, set an all-time record in Hollywood Hills when he shelled out $70 million for a property once owned by Ronald Reagan.
The sale redefined what a home could fetch in Hollywood Hills, which has historically seen sales top out in the $30-million range. The staggering price was due to the estate’s rare size and scale. Newly rebuilt, it sits on three-quarters of an acre above the Sunset Strip with unobstructed views of the city.
Records show the seller was Francesco Aquilini, a Canadian businessman best known as the chairman of the Vancouver Canucks hockey team. A regular in real estate headlines, he set the neighborhood’s previous price record when he sold a spec mansion for $42.5 million in 2020.
$70.4 million
Kim Kardashian got in on the action as well, buying yet another home in Southern California. The reality TV star has owned properties in Hidden Hills and Calabasas but picked up one in Malibu this time, spending $70.4 million on a bluff-top mansion once owned by Cindy Crawford and Rande Gerber.
Set on more than 3 acres overlooking the ocean, the coastal estate centers on a 7,450-square-foot villa surrounded by a swimming pool, tennis court and meditation deck.
It was sold by hedge-fund manager Adam Weiss and “Yellowstone” actress Barret Swatek, who originally asked $99.5 million for the place.
$75 million
For months, rumors swirled on where Drake — perhaps the world’s biggest hip-hop star — would buy a home. The rapper toured the finest estates of Southern California but eventually settled for something off-market, quietly paying $75 million for a Beverly Crest mansion owned by fellow music star Robbie Williams.
Drake’s new place is comically large, clocking in at more than 20,000 square feet on more than 20 acres — a rarity for the area. Across those 20,000 square feet, it manages to squeeze in 10 bedrooms and a staggering 22 bathrooms, as well as an elevator, wine cellar, gym, game room and 11-car garage.
$91 million
Malibu’s massive year continued thanks to video game designer Jon Burton, who sold his 6.6-acre spread in Paradise Cove for $91 million — a nice improvement on the $36.5 million he paid for it in 2012, but a bit less than the $125 million he originally wanted.
The price jump is mainly thanks to a face-lift Burton gave the place during his decade-long stay. Listing photos show he remodeled the living spaces with rich woods and large windows, as well as amenities such as a movie theater, tennis court, swimming pool and mini golf course.
The biggest highlight comes out back, where the 17,000-square-foot mansion descends to 340 feet of beach frontage.
$100 million
Only three sales surpassed the $100-million threshold this year, and one of them belonged to Tamara Gustavson, daughter of late Public Storage founder B. Wayne Hughes. She wanted $127.5 million for her sprawling compound on a Malibu bluff and sold it for $100 million.
The buyer, records show, is Byron Allen, the billionaire media mogul who founded Entertainment Studios.
The stunning spread has the usual laundry list of amenities but adds a few custom spaces such as a wood-and-glass guesthouse outfitted with a gym and yoga studio.
The profits are a drop in the bucket for Gustavson, who has a net worth of $7.59 billion, according to Bloomberg.
$120 million
Snapchat CEO Evan Spiegel finally closed his deal in Holmby Hills, spending $120 million on a property across the street from the Playboy Mansion. The sale process started last year, but he couldn’t close until the summer because the house wasn’t yet finished.
With the move, Spiegel joins one of the ritziest pockets in the country. The Playboy Mansion is the neighborhood’s most famous estate, but the area also holds iconic homes such as Owlwood and the Manor, which set the L.A. County price record at the time when it traded hands for $119.75 million in 2019.
$141 million
What more can be said of “The One”? When the country’s largest modern home was auctioned off for $141 million to the founder of Fashion Nova, it brought an end to a years-long saga of ambition and greed, a battle that’s been documented over and over again but remains hard to believe.
Once touted as a $500-million home, then listed as a $295-million home, then sold at a foreclosure auction as a $141-million home, the still-unfinished mega-mansion comes in as both a crowning achievement and utter disappointment. It ranks as the top sale of the year, and one of the priciest home sales ever in California, but couldn’t fetch anywhere near its original price, and leaves the buyer with millions more to spend to finish up the place.
In many ways, The One is the perfect encapsulation of Southern California’s luxury market, where developers chase bigger and bigger price tags for bigger and bigger homes until, oftentimes, it all blows up in a dramatic display for all to see.
If you’re a Netflix fanatic like us, you’ve probably binged shows like Selling Sunset or The Real Housewives of Beverly Hills, meaning you already have an idea of what life is like in sunny Los Angeles — and its ritziest surroundings.
The truth is, Cali living is just about as glamorous as you’re imagining. Just by walking on the streets of L.A., you’re bound to bump into Hollywood celebrities at some point in the week — and there’s no place with bigger odds for celeb spottings than Beverly Hills.
Biggest celebrities living in Beverly Hills, California
If you’ve ever wondered what celebrities live in Beverly Hills, we’re here to solve that mystery for you. Because it’s not just housewives who live here if you know what we mean (we’re looking at you, RHOBH fans).
Some of the most famous people in the world reside in Beverly Hills, and we’re about to give you a run-down of our favorites.
After a little bit of real estate detective work, we’ve compiled a list of celebrities who live in Beverly Hills at the moment – they do tend to move around a lot. If you’re planning a visit and are thinking of taking a tour of celebrity homes in Beverly Hills, then make sure these next Hollywood stars — and power couples — are on your list.
John Legend and Chrissy Teigen
Celeb power couple John Legend and Chrissy Teigen paid $14.1 million to buy Rihanna’s former home in Beverly Hills back in 2016. The couple and their two children made the most of their stunning home during Covid19 lockdown and shared jaw-dropping images of the family hanging out at the property.
But the couple was soon ready for a change, and they listed their long-time home for close to $24 million in the summer of 2020. They found their new dream home pretty quickly, and it was another Beverly Hills gem that cost them $17.5 million – a price worth paying for the zip code alone (90210).
The couple’s new home features 6 bedrooms, 9 bathrooms, a 10,700-square-foot open floor plan, and 24-foot ceilings. They also get panoramic city-to-sea views from almost every corner of the house – a pretty nice upgrade, if you ask us.
SEE INSIDE: Chrissy Teigen and John Legend’s house, a Beverly Hills trophy home
Ashton Kutcher and Mila Kunis
A sporadic Shark Tank host and savvy investor, Ashton Kutcher knows how to wisely invest his growing fortunes. And it’s no surprise that the former That 70s Show actor, along with his equally (if not more) talented wife joined the ranks of celebrities living in Beverly Hills.
Mila Kunis and Ashton Kutcher live in a striking hilltop farmhouse that overlooks the rest of Beverly Hills. The two have taken the farmhouse life seriously and set out to turn their million-dollar property into a fully sustainable farm.
Fun fact: Ashton Kutcher (@aplusk) and Mila Kunis have the sustainable L.A. farmhouse of your dreams (and ours, too, for the record).
The design-obsessed couple gave us a tour of their six-acre property for the cover of our June issue: https://t.co/DDOzrGEiSr pic.twitter.com/5LS1WPYu7c
— Architectural Digest (@ArchDigest) May 18, 2021
KuKu Farms, as the couple lovingly call their homestead, now features a well — that irritates the land — and a corn field, on top of a sprawling garden full of squash, tomatoes, lettuces, and more.
But don’t let that fool you into thinking the property is a rural farmstead. In fact, it’s one of the most beautiful celebrity homes in Beverly Hills, proving that style and sustainability are not mutually exclusive.
Jack Nicholson
Jack Nicholson owns many properties across the country, but his long-time residence is located in Beverly Hills, on the notorious Mulholland Drive.
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The multiple Academy Award winner is a veteran Beverly Hills celebrity resident, having first bought his property in 1969, purchasing additional parcels over the years to expand its footprint. He even bought Marlon Brando’s former neighboring home in 2005, razed it, and had it rebuilt.
Nicholson’s Beverly Hills home is also famous for darker reasons. It’s here that director Roman Polanski reportedly abused an underage girl, while Nicholson and his then-girlfriend Anjelica Houston were away.
The original house that used to stand on the site burned down, and various other incidents took place on Mulholland Drive, leading some to claim that the entire area is cursed. Maybe that’s what inspired David Lynch to make a movie about it.
Taylor Swift
Taylor Swift’s Beverly Hills abode is in a league of its own. The singer paid $25 million for movie mogul Samuel Goldwyn’s home back in 2015 — yeah, that Goldwin, you know, of Metro Goldwyn Mayer?
Swift’s mansion was actually granted landmark status in 2017, which means the young musician now owns a piece of Hollywood history. The property has never before been owned by someone not part of the Goldwyn family, so Swift is also writing history, if you think about it.
The 10,982-square-foot mansion is to be restored to its former glory, with the approval of the Beverly Hills City Council, of course.
The singer also owns a sprawling house in Rhode Island, which got a shout-out on her 2020 album, Folklore, with the song The Last Great American Dynasty paying tribute to the wealthy (and eccentric) socialite that owned the house before her.
SEE ALSO: Taylor Swift’s Holiday House — Home to “the Last Great American Dynasty”
Adele
Grammy-winner Adele is another Brit who has a thing for California living. The singer purchased her first home in Beverly Hills in 2016 for $9.5 million, and her second in 2018, after splitting from husband Simpon Konecki.
She didn’t venture very far to find her second home, though, as the two properties are across the street from each other. Adele’s second Beverly Hills abode cost her $10.65 million and was built back in 1961 in the gated community of Hidden Valley. It was previously owned by film producer Michael Hertzberg, according to the L.A. Times.
But the singer didn’t stop there.
Adele added another stunner to her real estate portfolio in 2022, when she shelled out $58 million for a property previously owned by Sylvester Stallone.
Adele’s sprawling mansion boasts the iconic 91210 zip code and is located in Beverly Park, which is still pretty close to Beverly Hills if you ask us. The new luxurious estate is now her home base, although she continues to own several properties in Beverly Hills.
SEE INSIDE: Adele’s house in Beverly Park, the $58M ‘house that Rocky built’
Sandra Bullock
Actress Sandra Bullock is also part of the elite group of Hollywood stars who reside in Beverly Hills. Our beloved Miss Congeniality paid $16.9 million in 2011 for a seven-bedroom mansion right next door to Ricky Martin.
Bullock also used to own a 3,153-square-foot home right above the Chateau Marmont on the Sunset Strip, which she rented out for a whopping $18,500 per month. She reportedly had enough of her role as landlord and sold that property in 2018.
An avid real estate investor and collector, Bullock has an impressive real estate portfolio to her name. While her current home base is in New Orleans, Louisiana, Bullock also spends time at her residences in Beverly Hills, Malibu, Austin, and New York City, to name just a few.
In early 2021, the actress paid $2.7 million for a 1946-built bungalow nestled in the mountains above Beverly Hills. The multi-acre property features 3 bedrooms, 3.5 bathrooms, a swimming pool with a waterfall, and gorgeous views. The Hollywood actress likes to keep her personal life private, so there’s no telling how much time she gets to spend at each of her various properties.
Jennifer Lawrence
Hunger Games star and Hollywood darling Jennifer Lawrence moved into her gorgeous Beverly Hills home back in 2014. The luxurious five-bedroom home came with a price tag of over $8 million, and an impressive list of previous homeowners, which includes Jessica Simpson and, shocker, Ellen DeGeneres.
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The property boasts a romantic, European-inspired vibe, which you might not have expected from a strong personality such as Lawrence. The actress enjoys beautifully landscaped grounds, a koi pond, a swimming pool, and even a home gym. No wonder she’s in such good shape.
Nicole Kidman and Keith Urban
Actress Nicole Kidman and her husband, country singer Keith Urban purchased their current Beverly Hills residence in 2008 for roughly $4.7 million, adding to their already heavy portfolio of real estate.
Since the acquisition, Kidman and Urban upgraded the property to include fun amenities for their children, including a jungle gym, a pool slide, and a chic cabana.
Their main residence is still in Nashville, but they own properties across the U.S., and their Beverly Hills mansion is reportedly one of their favorites. We say reportedly, because the couple is very private, and not much is known about their whereabouts. Even the interior of their Beverly Hills home remains a mystery, but we can safely suspect that it’s nothing short of glamorous.
Jason Statham and Rosie Huntington Whiteley
Next up on our list of Beverly Hills A-listers is probably the most good-looking couple on the planet. British movie star Jason Statham and supermodel Rosie Huntington-Whiteley settled in Beverly Hills in 2015, when they paid $13 million for a stunning five-bedroom mansion.
Their incredibly beautiful home was designed by Jenni Kayne, and is a perfect mix of contemporary architecture and timeless elegance. We wouldn’t have expected any less from the Victoria’s Secret model, as her taste is always impeccable.
You can take a peek inside the couple’s Beverly Hills mansion by watching Vogue’s 73 Questions With Rosie Huntington-Whiteley video:
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Not to mention that Statham is a passionate houseflipper. The couple and their young son spent lockdown at their modern mansion, where Rosie even filmed several Youtube videos sharing her beauty and style tips.
Kendall Jenner
Kendall Jenner’s art-filled Beverly Hills home is so gorgeous that it was even featured in Architectural Digest. The supermodel gave us all a sneak peek inside her sprawling, $8.55 million Mulholland Estates home that was once owned by Hollywood bad boy Charlie Sheen.
Jenner purchased the house back in 2017, and she listed a team of experts to help her redesign it to her heart’s desire. The result is a cozy, serene, and quiet escape from Jenner’s busy daily life, and a perfect retreat away from the prying eyes of the media.
The 6,625-square-foot home features meditation corners, a peaceful backyard, and an art studio where Jenner gets to unleash her creativity.
SEE ALSO: Keeping Up With the Incredible Homes of the Kardashians – the 2023 edition
Jeff Bezos
Amazon CEO Jeff Bezos is another celebrity with an impressive real estate portfolio under their belt. But this one is on an entirely different level, because Bezos owns the most expensive property in Beverly Hills, and probably one of the priciest in California.
Bezos paid a whopping $165 million for the Jack Warner Estate, previously owned by David Geffen, in early 2020. It was a record sale for a private residence in Los Angeles County, and one of the priciest residential sales in the country.
The Warner Estate was built back in the 1930s and is a one-of-a-kind historic gem worthy of Great Gatsby-style parties. Since purchasing the luxurious mansion, Bezos invested heavily in upgrades, adding a pool house, a powder room, and more high-end amenities.
Lizzo
In October 2022, acclaimed singer and songwriter Lizzo paid $15 million to snag Harry Styles’ former luxury mansion in Beverly Hills. The house was built in 2019 and boasts the legendary 91210 zip code, as well as 5,300 square feet of living space, 3 bedrooms, and 4 bathrooms.
Nestled in a private, gated community perched in the mountains atop Beverly Hills, Lizzo’s new home was owned by singer Harry Styles from 2014 to 2016. Since then, the property was remodeled and upgraded to meet the needs of modern A-list buyers like Lizzo.
The musician has not been shy about showing off her new digs, posting content on social media of her enjoying her stunning home theater or gorgeous infinity pool.
Rihanna and A$AP Rocky
Rihanna made the news rounds in 2023 after headlining the Super Bowl halftime show, reaching another level of awesomeness in her career. Luckily, she’s got quite a few luxury properties to retreat to and unwind after an adrenaline-driven show.
The singer boasts quite an extensive real estate portfolio, splitting her time between her properties in Beverly Hills, Century City, the Hollywood Hills, and Barbados.
Rihanna had a busy year in 2020, purchasing a five-bedroom mansion in Beverly Hills’ 91210 zip code for $13.8 million. Just months later, she paid $10 million for another four-bedroom mansion right next door. This investment might be a sign that this is where the singer and her partner, Asap Rocky, plan to settle down and raise their growing family.
The 7,600-square-foot home was built in 1938 and features 5 bedrooms, 7 bathrooms, huge walk-in closets, marble bathrooms, large private terraces, and stunning views. But above everything, the property offers privacy from the inquisitive eyes of the paparazzi.
Who knows, the house next door could house a recording studio, additional security and staff, or more baby rooms!
SEE INSIDE: Rihanna’s house in Beverly Hills
These are just some of our favorite celebrities who live in Beverly Hills. This eclectic enclave is a magnet for Hollywood stars, so the list could go on and on, but we’ll stop here – for now. Stay tuned for more celebrity-related real estate coverage on Fancy Pants Homes!
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There is more mortgage pain to come for the UK’s homeowners, many of whom are yet to feel the full impact of rising interest rates, according to a think tank.
The trend towards homeowners taking out longer fixed-rate mortgages has delayed the impact on some households, with two-thirds of the eventual £12 billion increase in annual mortgage costs still to be passed on, the Resolution Foundation said.
The Bank of England increased the base interest rate to 4.5% from 4.25% on Thursday – the 12th rise in a row since rates started going up in December 2021.
The average mortgage holder could see their monthly interest payments jump by around £200 a month if they fixed to a new rate this year, the Bank’s economists estimated.
Simon Pittaway, senior economist at the Resolution Foundation, said: “While interest rate rises might be coming to an end, there will be plenty more mortgage pain to come.”
Around four-fifths (81%) of outstanding residential mortgages in December 2022 were fixed-rate deals, according to UK Finance figures. This group will not feel the immediate impact of base rate rises until their deal ends.
The foundation said that, while the Bank’s rate-rising cycle has been sharp, the growing popularity of fixed-rate mortgages and longer-term deals means many borrowers are yet to see the impact on their mortgage outgoings.
Of the 7.5 million mortgagor households that will eventually be affected by the rate-rising cycle since the end of 2021, around half have yet to see a change in their mortgage rate, the foundation said.
It added that mortgage costs are expected to remain elevated for some time.
Richer households, which are more likely to be mortgaged than poorer homes and tend to be more expensive properties, will face the majority of the £12 billion rise in mortgage costs, the foundation said.
But it predicted that the scale of the living standards shock will be particularly high for those low and middle-income households who are affected.
Younger home-owning families, who tend to have lower incomes than older households and higher mortgages relative to incomes, will also face a sharp living standards hit, the foundation said.
The foundation is focused on improving living standards for people on low to middle incomes.
A spokesperson for trade association UK Finance said: “Lenders stand ready to help anyone who might be concerned about their mortgage payments. If you’re struggling, don’t put it off – speak to your lender as early as possible.
“Banks have a range of tailored options available to help. Your lender will work with you to find the best option for your individual circumstances.”