Poor economy costs Nicolas Cage his castle...one of them, anyway

It's hard to believe an Oscar winner who pulled in $38 million in 2008 would need to part with one of his homes because of the economy, but that's exactly why Nicolas Cage is selling his 28-room castle.

Citing a "difficult economic situation" as Cage told the German celebrity weekly Bunte (via Huffington Post), he sold his Bavarian castle to his German adviser earlier this month. Despite parting with the magnificent-looking property after a year's absence, Cage says that the Neidstein castle will continue to have a special place in his heart.

The sale of his castle is just the tip of Cage's for-sale portfolio. Luxist reports that Cage is trying to sell five other properties, including a private island and one of his homes in New Orleans. Oddly enough it seems Nicolas Cage has taken the down housing market as a sign to sell many of his properties. Perhaps Nick is just trying to keep up with Paris Hilton's downsizing. Either way, Cage will somehow manage to tread these choppy financial waters.