The sale of Manhattan in 1626

... since 1803 the heartland of America has appreciated at an average annual rate of 5.5 percent per year, whereas since 1626 Manhattan has appreciated at an average annual rate of ... 5.3 percent. Conclusion: that dimbulb Minuit may have paid too much! [C]ompared to other historic U.S. land scams, Manhattan may not have been the steal everyone thinks.

--Cecil Adams, "How much would the $24 paid for Manhattan be worth in today's money?"