{"ok":true,"events":[{"content":"The \"Third World\" vs. Western Model in having a home. The third world wins.\n\nWhat you are describing\u2014buying a plot of land, putting up a basic concrete or brick structure, living in it, and adding a second floor or a new room whenever you have extra savings\u2014is known as incremental building.\n\nIt is highly efficient for the individual because it carries zero debt and zero interest. However, from the perspective of modern Western macroeconomics, incremental building is viewed as inefficient because it doesn't stimulate the financial sector.\n\nThe Western model was explicitly designed to tie housing to banking: the bank gets 30 years of guaranteed interest, the local government gets immediate property tax on a fully completed asset, and the consumer gets the psychological satisfaction of immediate ownership\u2014even if they are renting it from the bank for the first three decades of their adult life.","created_at":1783214720,"id":"6b9ddab09dfbbecf6f6e6b2f0fc5fbf17645153427fe9a4522ab2405aab30b2b","kind":1,"pubkey":"c7acabf1fed201a53185e4dc5e0c6bae2bc5db19d73abf840535f305d8f05180","sig":"f0148ae0b04e856f1eb7624268e994294503e22c3c8e697243110cbfeb3e295ccc66b460420e16dcd34cc5bbcbda7bbfe021724ac9e6c8e17d37b26d7ea2ee19","tags":[["alt","A short note: The \"Third World\" vs. Western Model in having a ho..."],["client","Amethyst"]]}],"count":1,"total_count":1}