Tough Time$! Elle Macpherson Forced To Take Drastic Measures

Model Elle Macpherson has had to cut the asking price of her Notting Hill mansion after the property has failed to move for the past year.

Macpherson has cut the price from $15 million to $12 million…21% less than its original value.

That’s a HUGE drop!

Macpherson bought the house in 2006 and spent tons restoring and upgrading the home.

Although with the economy looking the way it does, she might have to give it away for free!

[Image via WENN.]