I love what Elon Musk is doing, and usually he makes pretty reasonable assumptions, but I think he's wrong when he says "most mid-40 somethings" can afford $500,000.
Being able to afford a $500k house is different than having $500,000. Houses can be mortgaged for 30 years, but if you're going to Mars, you're not going to have an income and can't pay back that loan.
I don't think a lot of 40 somethings have $500k laying around.
Being able to afford a $500k house is different than having $500,000. Houses can be mortgaged for 30 years, but if you're going to Mars, you're not going to have an income and can't pay back that loan.
I don't think a lot of 40 somethings have $500k laying around.