Eddie Murphy is suffering in the global economic downturn - he's been forced to slash the asking price for his home by $15 million.

The star put his New Jersey estate on the market almost five years ago, with a price tag of $30 million. The property, which boasts a bowling alley, theatre and recording studio, failed to sell - and the price has now been cut by half, according to the New York Daily News.

Real estate broker Dennis McCormack says, "It's a beautiful house and 10 minutes from Manhattan. The home was recently renovated and I listed it three weeks ago."

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