£8,000 per square foot

That's the price a London businessman will pay if the deal on this house in Kensington Gardens, London, England goes through. Britain's richest man, steel billionaire Lakshmi Mittal, can well afford the £117,000,000 ($230 million) price tag, I'm sure, and rumor has it the house isn't even for himself but his son Aditya because dad already owns a sizable house on the same street. But honestly $15,000 a square foot? With a declining housing market and a looming recession? I ask you is this a smart move?
via Huffington Post and The Times