I keep seeing breakdowns like this and have a hard time imagining accumulating $1M in my lifetime, let alone spending $1M annually over several consecutive human eras. Here’s something I find easier to wrap my head around:
$500k ≈ The average single family home. To most people, this is the end game. The American Dream, realized.
$1M ≈ Two of those homes. A primary residence and a vacation home/entry to the landlord class.
$1B ≈ 2000 of those homes. If the average urban block contains 20 of those homes, that’s 100 blocks. Looking at my home city, that’s the entirety of a large neighborhood district.
$1T ≈ 2,000,000 of those homes. About half the states in the US have less than 2M in housing units built, including non-single family homes.
I keep seeing breakdowns like this and have a hard time imagining accumulating $1M in my lifetime, let alone spending $1M annually over several consecutive human eras. Here’s something I find easier to wrap my head around:
$500k ≈ The average single family home. To most people, this is the end game. The American Dream, realized.
$1M ≈ Two of those homes. A primary residence and a vacation home/entry to the landlord class.
$1B ≈ 2000 of those homes. If the average urban block contains 20 of those homes, that’s 100 blocks. Looking at my home city, that’s the entirety of a large neighborhood district.
$1T ≈ 2,000,000 of those homes. About half the states in the US have less than 2M in housing units built, including non-single family homes.