Low time preference.

Boats are almost the opposite of prudent fiscal planning

To those who doubt this: boat owners typically speak of purchases in terms “boat-dollars”, which trade 1:10 with USE.
“How much much did that waterskiing attachment cost?”
“Not much, just 60 boat-dollars”

“I have purchased a ‘boat,’ or as the salesman called it: A hole in the water for pouring money into.”

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