Actor Nicolas Cage said he had to make “bad movies” to pay off a $6 million debt after the housing market crashed. In an interview with the “60 Minutes” program, he said that it was a dark period in his life, but roles in low-budget films helped him pay off the amount owed.
“I was overinvesting in real estate. The housing market went down and I couldn’t get out in time. But I paid it all back, about $6 million. I never filed for bankruptcy,” Cage said. In 2008, the United States went through a housing market crisis, with an increase in delinquencies and the fear of defaults after years of incentives to buy real estate.
“Work has always been my guardian angel. It may not have been the best, but it was still work. Even if the movie sucks, they know I don’t care,” added the actor.
This isn’t the first time Cage has spoken out about his financial difficulties, yet he hasn’t filed for bankruptcy. “When I was making four films a year in a row, I still had to find something in them. [filmes] be able to give it your all,” she told GQ in 2022. “Some were great, like ‘Mandy’, but some just didn’t work. But I never called.”
Source: Terra
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