Reminds me of the "Bigger fool than I" scenario in reverse. If he cant afford to move even "Next Door" at his current income level, then you would have to conclude NOBODY at the same income level or lower could afford to do so also. Which makes me laugh at his silly thought process when deciding his real estate's value.
"Stuck" comes to mind
I'll bet he has HELOC's all over that property, thats how that 38K ski boat in the driveway and the 40K truck that pulls it got there.
