Nicolas Cage said he is "a little bit homeless" and living in hotels after coastal erosion created a sinkhole at his Malibu home. The actor, 62, made the comment at an Oct. 31 appearance at L.A. Comic Con.
A 30-square-foot sinkhole first appeared on the property and collapsed on Sept. 6, expanding to 900 square feet. Jonathan Torres, a public information officer with the LACFD, said the collapse resulted from coastal erosion. Witnesses reported seeing waves crashing through the hole.
Cage purchased the 4,000-square-foot beachfront home two years ago for $10.5 million. The property is located in Sea Level Drive, an exclusive gated community in Malibu where Pierce Brosnan, Dustin Hoffman, and Mindy Kaling also reside.
A state of emergency was declared after the collapse. The city of Malibu red-tagged seven nearby homes initially, then red-tagged 24 additional properties. Officials cited road erosion blocking access and evacuation routes. The neighborhood's homeowners association estimated repairs could take up to five weeks.
Before the damage, the home had been on the market in March 2024 for $11.25 million and was offered for rent at $25,000 per month. The residence includes a secluded beach, four en suite bedrooms, a chef's kitchen, and a primary bedroom with Pacific Ocean views.
Cage also holds a Manhattan property. In March 2026, he purchased a two-bedroom condo at Essex House Residences at 160 Central Park South for $6.5 million. He financed $4.55 million of the purchase, securing the unit for $1.4 million below its initial $7.9 million asking price.