only sometimes on paper because they bought property decades ago that increased value but debt haven't been paid off yet. Even if debt paid off doesn't mean tho

only sometimes on paper because they bought property decades ago that increased value but debt haven't been paid off yet. Even if debt paid off doesn't mean those people are rich - if they sell property they would have to still rent place to live at now much bigger rental cost, unless the move to cheaper country or cheaper state/town but might not find a job there.