One reason is he pays more to rent a place to park his Beamer per month than I ever paid per month on our downtown 2 story 7k Plus sq. ft. commercial building. His apartment rent is slightly less then want he pays for parking.
200K sounds like a lot of money and around here it is. In NYC or Near DC I doubt it.
I live in the NYC suburbs and I don’t make $200,000 a year, yet I live quite comfortably and am able to put my kids through college.
There’s something wrong with you relative’s priorities and the way he handles his money. I know I wouldn’t trust him with mine.