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[quote=Anonymous][quote=Anonymous]One thing that is consistent with my boomer relatives who weren’t recently working or running a business is that they grossly over value their assets and grossly underestimate their spending. Several are convinced that they are sitting on goldmines of stuff when in reality their children will have to spend money to haul it away. Several own properties but grossly over estimate what it’s worth. They don’t understand that their homes are tear downs and the value is in the land. [/quote]

This makes a lot of sense. MiL gets annoyed when we will not take their heirloom furniture, really annoyed. We've tried to explain that the market has changed, but she doesn't want to hear. She believes that she can sell her sets for more what she paid or her parents/ILs paid as she sees them as antiques. Yes, they are, but not ones that folks are seeking.

She is more realistic about real estate, but their property is in a high demand area of an overall low COL city. They will get what they paid and probably some more, but there is a ceiling to the final price due to the low cost of living. [/quote]

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