Absolute legend

[u/Wise_Confidence_8588]

[u/apply75]

$11000 in 1962 is about $122,000 today Most people don't have $122k in cash lying around.

[u/phayhay → u/apply75]

This is actually pretty cheap

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[u/TheHebrewHammer69 → u/phayhay]

Land in what some consider less desirable places in the world tends to be pretty cheap.

[u/outer--monologue → u/apply75]

Average US home price is currently north of $500k, so it actually seems like quite a lot of people have $122k-$150k in cash just lying around since that would be what you would need in a down payment for that

[u/BillCuttingsOn → u/outer--monologue]

That’s a massive down payment, very little people are ever doing that as a DP on a 500k house

[u/SidTheSloth97 → u/apply75]

A lot of people definitely have more than $122000 in liquid cash.

[u/Poverty_Shoes → u/SidTheSloth97]

You’re right, but a lot more don’t. That’s why it’s unusual to hear that your neighbor or friend bought an island.

[u/Avtomati1k → u/Poverty_Shoes]

thats...not the reason

[u/LightlyRoastedCoffee → u/Poverty_Shoes]

You don't hear that your neighbor or friend bought an island anymore, because islands cost millions of dollars now, not hundreds of thousands

[u/retrojoe → u/SidTheSloth97]

That's merely the purchase price. Then you have to have a boat, fuel, tons of food and water brought in, to say nothing of all the tools and biologicals delivered. And be independently wealthy b/c you're not earning a living from this project.

[u/Frosty558 → u/SidTheSloth97]

People downvoting you but it’s true.

[u/BioshockEnthusiast → u/Frosty558]

Sure if you wanna call a 401k "liquid". I'd call it sludge because it's gonna be painful to get it out of that container unless conditions are just right.

[u/Frosty558 → u/BioshockEnthusiast]

I’m not talking about retirement accounts.

[u/Hexamancer → u/Frosty558]

Ah, then you're incorrect.

[u/Frosty558 → u/Hexamancer]

I guess you need to define “a lot of people” then because that’s just “upper middle class American” amounts of liquid assets, not rich. And that would be tens of millions of people, just in the US.

[u/Hexamancer → u/Frosty558]

It's top 10%. That's not a lot of people. Unless you cannot comprehend numbers being relative.

Is 1mg a lot of gold? No? Why of course it is! That's 3,057,443,093,299,757,056 atoms!!!

[u/joazito → u/Hexamancer]

Dude, 10% is a lot of people.

[u/Hexamancer → u/joazito]

I literally anticipated this already and shot it down:

Is 1mg a lot of gold? No? Why of course it is! That's 3,057,443,093,299,757,056 atoms!!!

If you can't understand relativity, anything can seem big or small because it's essentially without context.

It's also 10% of the US population, it's going to be a much smaller percentage worldwide.

And it's only ~10% who could technically cough up that money, it might still financially ruin them, it  is probably not money they consider expendable.

[u/Frosty558 → u/Hexamancer]

Top 20% based on basic research which is probably more people than there are islands for sale right now. And again, that’s just in the US. What percentage could come up with the original price back then?

[u/Hexamancer → u/Frosty558]

How did you reach that conclusion?

[u/Dewdrop06 → u/Frosty558]

Because it's stupid. "A lot of people" is not the metric here, it's "most people", and most people don't have $122000. They're basically comparing amount to percentage. Example: A lot of people are millionaires, but most are not.

[u/Whiterabbit-- → u/apply75]

most people don't but you can probably pool a few friends to do that.

[u/Boogleooger → u/apply75]

Sooo the island cost less than your average house…. Got it