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Reply to "Retirees living off their investments in expensive resort towns"
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[quote=Anonymous]Sounds like OP in unfamiliar with the real estate market in the area they were visiting. Wealth can be built through investments, savings, inheritance and real estate. The real estate market in So Cal has been explosive in the past 20 years. If the retirees have lived in their same house or bought long enough ago, their equity could be worth 4-6 times more than what they bought the home. DMV has wealthy retirees. [/quote]
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