Boo hoo hoo. They retired early with a mere $260K in retirement savings, yet they wanted multiple McMansions in resort areas, and they wanted to get filthy rich on top of that. Now they’re so poor they can’t go on cruises or join a country club.
But to me these quotes really stand out:
“We knew prices wouldn’t keep going up like they had been,” says Steve. “But we figured with demand from baby boomers retiring, homes in Florida would keep appreciating.”
Sounds like a case of the “we thought things were different here” disease.
The properties have been on the market for nine months without a serious offer, and the carrying costs are killer … They’re determined to unload their investment properties, even if it means taking a loss.
They were holding out for a profit all this time?!?!?!? Methinks they deserve to lose their money.
