Well, at least one millennial is buying a home. Snapchat co-founder Evan Spiegel, 25, recently bought a $12 million Brentwood, CA, house with his girlfriend, supermodel Miranda Kerr, 33, TMZ reported.
The seven-bedroom, eight-bathroom house has a celebrity pedigree. It was designed in 1951 by Gerald Colcord, one of California's most stellar architects, and once owned by actor Harrison Ford.
The nearly 1-acre property includes a 7,164-square-foot main house, a guesthouse, and two detached staff suites. The estate was originally listed for $12.5 million, so Spiegel and Kerr got a bargain. Other celebs who own Colcord designs include Reese Witherspoon, Debbie Reynolds, and Bob Newhart, Variety says.
Spiegel, who grew up in Pacific Palisades, helped develop Snapchat, the secretive picture and video sharing app, as a Stanford University student. Reports estimate the app's value at $19 billion, making it currently the third most valuable privately held startup, according to Fortune. Spiegel, whom Forbes has called "the world's youngest billionaire," is worth an estimated $2.1 billion.
Kerr, an Aussie and former Victoria's Secret model, is actor Orlando Bloom's ex. She and Evans began canoodling last year, TMZ says.
We're glad to see the young billionaire jump into homeownership in a big way -- well, it's not big for a billionaire but it is huge for the rest of us. With a little luck, his millennial pals will follow suit.