Jay-Z, Beyonce and their 3 kids are living large huge in Malibu this summer, but the clock is ticking for them and come fall they will scramble again for a place to live. Real estate sources tell FREQUENCY 360 RADIO the $400,000-a-month Malibu estate they're renting is just for the summer. We're told they have no intention of living there past August because Blue Ivy is enrolled in an exclusive school in the heart of L.A. and the drive is way too far. Before moving to the Malibu mansion, Bey, Jay and Blue Ivy were living in a luxurious hotel as they hunted in vein for a place of their own.
Our real estate sources say the Carters have been frustrated because their search -- which has gone on for several years -- has hit a stumbling block, and the stumbling block is cash. We're told their budget is around $75 million, give or take a few mil. It sounds nuts, but they can't find a place they love for the amount they're willing to spend. As one well-connected source puts it, "They want a super baller, crazy estate, and the ones they love are going for $150 mil." Our sources say the Carters have seen just about everything that's on the market and nothing in their price range is floating their boat. Yes, it's just nuts.