Aerosmith's drummer Joey Kramer has made a massive 27 per cent loss on the recent sale of his home in Massachusetts. The 59-year-old percussionist bought two houses and knocked them together in 2003, but put the mega-mansion on the market in 2008 after he split from his wife, April.
After 19 months, the property has finally sold for $2.7 million - significantly less than the original $5 million asking price. The house boasts four bedrooms, a swimming pool and a recording studio, as well as a guesthouse and three stand-alone garages, which Kramer used to house his car collection.
Another musician who is forced to sell his property in low price is The Rolling Stones' rocker Ronnie Wood. Wood has been forced to slash the price of his London mansion by $2.3 million. The rocker initially purchased her home for $11.6 million less than two years ago but had to put it on market for $9.3 million.