(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."
The Dream is a bad thing Demwit, just that obtaining anything close to such a dream is very difficult for most average americans.
It always used to astonish me that Republicans continually referred to Democrats running for office as "elitist". Look at Bush (from about as an elite background as it is possible to find) and McCain (can't even recall how many houses he owns) representing the last 3 Republicans in presidential races. Then we see poor old Mitt having to see his $5 million ski pad.................Staggering hypocrisy.
Wonder if this has anything to do with that 45 million he burned through to try and convince us he was so great? Money well spent for the sham candidate he was. Even the people of Iowa knew it. They turned to Huckabee over the huckster.
Is downsizing code for foreclosure or cannot continue to afford. Interesting!!!!!!!
Guess he will need a bail out soon, as well. LOL!!!!!
It's a business thing people! He's selling now before the houses depreciate with all the foreclosures going on. That's all.
Four homes? Too much now that the kids are grown? What a bunch of bull?
Can always check comments here to find people that hate success and hate America.
What a joke. It sucks to have to "down size". Lets all feel bad for the rich guy. NOT. Take it like a man Mitt.
...and MA rejoices...
Wow. So sorry about that. [/end sarcasm]
WOW! how could people like this guy ever want to see other Americans prosper when the want it all.
Hey Mitt.... don't HIDE behind lies and press spin of "not needing more space". What a crock of lie, just TELL THE TRUTH man. YOU CAN'T AFFORD YOUR HOMES ANYMORE AND YOU HAVE TO UNLOAD THEM OR SUFFER FINANCIAL BANKRUPTCY LIKE THE REST OF US!!! LOL. It's okay Mitt, welcome to the REAL WORLD buddy.
Why don't you call your buddies John McCain, John Boehner, Lindsey Graham and Eric Canter to BAIL YOU OUT!! LOL.
They've been doing NOTHING but run their BIG mouths for weeks now, spreading nothing but "negativity and distortions", as if they are the MAJORITY PARTY in Washington. What does that tell you Mitt?
I hope you REPUGS enjoy a big dose of your own 8-year long medicine!!!
I really, really, really, feel bad for them having to unload 2 mansions, don't you all?
Oh, what a shame! I wonder if John and Cindy will be getting rid of one or two of their many homes, since he can't remember how many there are anyway, he won't miss them (LOL).
LMAO!!! I love it!! What a bunch of crooks those repubs are!!!
Wouldn't surprise me if this was done for political purposes. I bet he's thinking about running again in 2012, and doesn't want to be caught in the same trap that McCain was (How many houses do you have? Too many! I'll have my staff get you that answer...)
I hope he takes a bath on it, just the same way every other American is taking a bath, thanks to the inept Republican economic policies of the last 8 years!
I feel so sorry for him, being forced to sell a couple of masions...AHHH! (Heavy Saracasm Implied)
God forbid we have an accomplished man as President... Mitt 2012. Oh, excuse me... GOVERNMENT forbid we have an accomplished man as President.
I didn't know that "cabins" got up to be 9,500 sq. ft.
Way to go Mitt! That' setting an example. You seem like a decent guy, unlike many of your colleagues who are irascible at the moment. Some of them even gasconade about their bipartisan experience, which is hard to believe.
Wow, I'm speechless for once.