Kanye West Living Like a Transient, Blowing Through Money

Kanye West is a billionaire, yet he's living like a transient ... with no place to call home.

Sources close to Ye tell us as of late, he'll rarely stay in the same place for more than a few days -- living out of fancy hotels and various rental homes. We're also told he spends money like it's nothing, recently fronting a ton of cash for his Yeezy show in Paris and of course -- the alleged purchase of Parler.

What's more ... our Ye sources tell us he's recently made some very rash business decisions as well -- most notably firing Shervin Pishevar from Yeezy and losing other advisors and publicists.

We've spoken to former friends of Kanye, one who told us, "He blows through his money like it's water" ... and there's some serious concern he could fall into financial ruin.

Ye revealed during his "Drink Champs" interview he had recently purchased a $50 million penthouse -- another massive expense -- in addition to his various other real estate transactions.

As we reported, Kanye bought a house next to the home Kim Kardashian now owns in Hidden Hills. The house needs a total redo, but Kanye wanted it so he could be near his children. He bought it nearly a year ago, but there's been little to no work done to remodel it. As far as we know, Kanye never stays at that house.