Hi, I couldn't find the answer to this in my grammar book. Native speakers often use "would have" to describe a real state in the past, even though it sounds like an unreal past conditional sentence. For example: World War 2 was a long time ago.
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pacorbettWorld War 2 was a long time ago. But my grandmother was born in 1937 so she would have been alive then.I don't think there is an "exact meaning". Not an exact paraphrase, if that's what you're looking for.
It sounds totally natural to me but what is the exact meaning of "would have" in this case.