(CNN) - He has been estimated to be worth in excess of $250 million, but former Republican presidential candidate Mitt Romney may just be belt-tightening along with the majority of Americans.
Romney, the former business whiz and governor of Massachusetts, is looking to unload two of his four mansions, collectively valued in the currently-sour real estate market at close to $10 million.
The more expensive of the two homes is a 9,500 square foot cabin on 11 acres in Deer Valley, Utah, listed at $5.25 million. The property comes complete with 9.5 bathrooms and is entirely furnished with custom-made furniture. The real-estate Web site Zillow.com describes the 10-year-old ski cabin as the "perfect retreat" with "several gathering areas [that] provide enough space for lots of family and/or guests."
Also on the market is the Romneys' chief residence in the posh suburban Boston neighborhood of Belmont, where most home prices run well into the millions. The Romney house, which comes with a tennis court and 2.5 acres of land, has yet to be listed, though the Boston Globe estimates the price will be set at $3 million - $1 million less than what the home was worth 2 years ago.
Eric Fehrnstrom, a spokesman for Romney, said the moves are not an indication the nation's flagging economy has affected the Romney family.
"Now that the children are all grown with families of their own, the Romneys have too much space and are downsizing and simplifying," Fehrnstrom said.
The former governor is still holding on to a large retreat on Lake Winnipesaukee in New Hampshire and a recently purchased $12 million home in La Jolla, California. Fehrnstrom also told CNN Romney plans to buy a condominium in Boston.
"They want to maintain Massachusetts as their official residence, but it will be an apartment-size dwelling," he said. "Massachusetts is where the Romneys raised a family, where Mitt Romney started his business and where he was governor for four years, so they have an emotional attachment to the state and many friends there."
Funny how some see the Amercian dream as a bad thing...
I wish I had a mansion to unload.
....ummmmm.....must hold back comment....head may explode.....
Sounds like an average American I can relate to. Romney '12
If Mitt can only hang on long enough for Obama to come up with his foreclosure aid ......
Well now, how the mighty have fallen.
How anyone can describe a 9,500 square foot structure as a cabin boggles the mind.
"...not an indication the nation's flagging economy has affected the Romney family," says the spokesman?? How nice for them.
Many homes, too many cars, over the top excesses, out of touch with the majority! No wonder all republicans want out of a stimulus package are tax cuts. Gross displays of wealth is what is wrong with this world. I have no issues with wealth but with the way the wealth is spent. Wake up people! BTW Romney was a lousy Governor, speaking negatively of the very state he was supposed to be governing while on the road.
Now it's Al Gore's turn to unload his not-so-green mansion and downsize. Hypocrite!!!
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we will never be represented by a common man in upper government. Obviously only the welathy can get elected, or those who have already sold their souls to get where they are…
Wealth requires you do special things for those who can make you wealthier.. and the truth is most of us have too much of a conscience to climb the ladder….
I depise what has happened to this country, and I really can't be real proud of it.. we need a regular Joe or Jane to finally represent us workers…
I'm sorry for your loss, Mitt. And to think I only had to give up one meal a day to make it!
Since "the fundamentals of the economy are strong" I wonder if McCain will keep all eight estates?
Reply to demwit ...
This is not an example of American dream – this is an example of conspicuous consumption that will ruin Americans and the rest of population if we allow this WASTEFUL STUPID way of living.
"How dare he make more than his fellow comrades! He should have to live in the street like the rest of America. Obama's new foreclosure plan should not include any wealthy people, they need to be punished for being successful."
Typical Obama supporter (minus spelling mistakes for easy reading)
It won't work. He's still a plastic, multi-millionaire who can't relate to most Americans. He will never be president, no matter how many homes he sells.
Take it from me Rom, give it up. We still don't like you.
SPARE US! is he trying to just fit in with the rest of us poor folks out here just trying to hold on to our small and only home?
we are no longer dems and repubs, we are haves, and have nots.
the republican party only seems to understand the "HAVES" and could care less about us unfortunate "HAVE-NOTS".
HE AN MCCAIN ARE TWO PEAS FROM THE SAME POD.
"Now that the children are all grown with families of their own, the Romneys have too much space and are downsizing
now, that says it all!!!!
Wow, jealousy is rearing it's ugly little head on this board.
And this is news? What about the markets reaction to the stimulus Plan? Guess there's no correlation there, huh?
Must be getting ready for the 2012 election.
At least he knows how many mansions he owns. That's a leg up from John-I-don't-know-how-many-houses-I-have-McCain.
Sounds like a case of "Feed them Cake"
"Funny how some see the Amercian dream as a bad thing…" by demwit
Seriously....we should punish people for being good capitalists.