[disneysteve]

That's a great article and provides a lot of detail that was missing when I started this thread.

He bought the home 18 years ago and yet still owes $5 million. " like so many other Americans, McMahon used his home as an ATM over the years." So he bought a home that was probably within his means at the time but proceeded to suck out the equity as prices climbed to spend on who knows what.

Now, he has it on the market (for two years now, I believe) with a current asking price of $6.25 million, which is $1.25 million more than he owes. How many regular folks are in the same situation. Crying that they can't sell their house but asking a ridiculous price given current conditions. If he wants to sell, probably all he needs to do is knock $1 million off the price. He'd still get enough to pay off his loan and sale costs and be done with the problem. He could then take that $5 million and buy a nice little cottage somewhere.