Satoshi's Sidewalk #4: What does this sidewalk cost me, anyways?
While we mosey down these sidewalks, we look down and wonder...
Have you ever wondered what the sidewalk in front of your house or apartment costs? How often does it get replaced? When was it last replaced? Is the sidewalk supposed to buckle upwards like that? What about that whole corner that cracked off and is missing? Why doesn’t the government just fix it already? It’s been busted forever!
Welcome to the land of infrastructure, where the developer pays the first time around and the government avoids repairs and replacement.
The sidewalk in front of your new apartment building was poured by the developer who built it. Whether its an apartment, condominium, or single-family home, the developer is responsible for updating the sidewalks (and other infrastructure) to conform with current standards. This will vary by the age of your home and which city you live in but this is a standard development practice.
What does this mean for you? Well, if the developer is responsible for public infrastructure the cost has to be paid by someone. That someone is you, dear reader. The cost of living - rent in this case - is raised due to government mandate for to pay for public infrastructure. The Homebuilders Association of America estimates the percentage cost of government compliance for new homes to be greater than 30% of the overall cost. Yikes. This author can attest to the costs in time, fees, consultants, and subcontractors to update public infrastructure for new projects.
So who maintains and eventually replaces the sidewalk? Well, your local government.
But do they? Stay tuned…
Satoshi’s Sidewalk is not built at the behest of government. Nor are the numerous Citadels.
Bitcoiners build. Bitcoiners maintain. Bitcoiners restore.