Think it’s only the little guys who get caught up in real estate disasters? As these celebrities prove, you can be rich and famous and still lose your shirt in the real estate market.

#7 Slash

Guns ‘n Roses/Velvet Revolver axeman Slash got burned in a home deal, or so he alleges in the lawsuit he filed last fall against an unscrupulous agent at Sotheby’s International Realty. According to Slash he was duped into buying a house, which he was told had 7,800 square feet (it’s got less) and was on a private street (it’s not). Slash is seeking $1 million in damages citing “grief, shame, humiliation, embarrassment, anger, worry, disappointment, nervousness, stomach disorders, backaches, loss of appetite and inability to concentrate on work,” suffered as a result of the dissembling. Hey, um, maybe next time Slash you should, you know, actually look at the house before buying it?

#6 Latrell Sprewell

Former NBA star Latrell Sprewell of coach choking fame, has hit a spot of rough water these last few years. First the man repossessed his prized 70-foot yacht, “Milwaukee’s Best” (Classy), then earlier this year they came after the former first team all NBA player’s $405,000 home. All this comes after Sprewell had rejected a $21 million contract extension on principle that he had “family to feed.”

#5 Michael Vick

A lot of memories were made at Michael Vick’s 15-acre compound in Surrey County, Virginia: the fiercely competitive all night Madden NFL tournaments with his homeboys to the too many stripper promenades on the south lawn, oh and of course the massive dog fighting operation which landed the former number one over all NFL draft pick in jail. With his hefty legal bills, Vick was forced to sell of the house for a cut-rate price, below the properties assessed value of $747,000. Adding insult to injury the buyer turned around and put the house on the market for $1.1 million, looking for a tidy profit.

#4 Marion Jones

She was America’s Olympic sweetheart, with million dollar endorsement deals to boot. Then her use of performance enhancing drugs was revealed and it all came crashing down. The disgraced Olympic gold medalist had the bank move in on her $2.5 million “dream home” in Chapel Hill, NC, last year. Ms. Jones is currently residing in a federal correctional facility in Texas.

#3 Jose Canseco

What is it with steroids and home foreclosures? Suppose those Balco bills can really tally up! Former big league slugger/steroid junky/narc/author Jose Canseco had his $2.5 million, 7300 square foot Encino home foreclosed upon, after he failed to keep up with his mortgage payments. You know, it couldn’t have happened to a nicer guy.

#2 Whitney Houston

Nothing like the old crack rock to make you “forget” to pay property taxes on your New Jersey mansion. Whitney Houston owed $1 million in unpaid back taxes on her $6 million dollar estate/crack house, which subsequently passed into foreclosure. Makes her hit “I Have Nothing” take on new meaning!

#1 Michael Jackson

Do you still dream of playing on your very own amusement park, riding on the ferris wheel, gorging yourself on cotton candy and popcorn? No? Well that’s because you unlike, Michael Jackson, are a well adjusted adult. We’re not sure exactly what went on there, but we do know that it gives us the creeps. Maybe that’s why Mr. Jackson’s 2800 acre “Neverland Ranch” in Santa Barbara County, valued at over $120 million, has gone into foreclosure on multiple occasions without ever finding a buyer.

What do we have when we sum up all these real estate catastrophes? Three foreclosures, over $150M in real estate value evaporated, two prison terms, and seven celebrities whom we’ll see on reality tv sooner than we want.