Comments by "David Himmelsbach" (@davidhimmelsbach557) on "How This Central African City Became the World’s Most Expensive" video.

The primary reason for the Resource Curse is that extracting oil requires limited labor -- and that labor is required to be imported. Local wages don't move because the locals are not any kind of factor in the boom... save as semi-skilled tasks such as: Taxis, security, doorman, janitors, ... In the case at hand, the locals can't even contribute to high end education. What the elites should've done -- but didn't -- is build transportation infrastructure out into the countryside -- with a rail road grid being at the top of the priority stack. Bike paths should've been next. (Shun cars.) Much cheaper to establish -- and bicycles are affordable for practically everybody. ( Think Amsterdam ) It goes without saying that the elites should've invested in water and sewer pipes -- and that low rise homes are the way to go -- high rise apartment blocks made from concrete are insanely expensive for a nation with empty land all over. ( The existing projects should have the elites buying the price down 70% and financing the purchase. ) The idea would be for DIY construction -- cinder block and tin studs -- at virtually every turn. ( Termites! ) That way a SFH would cost about $2,500. And you'd establish craft skills in the building trades. DIY only goes so far. A sponsored housing bank would kick in 98% mortgage loans... thirty-years... at 2% interest. Property taxes would be capped at 0.5% per year on assessed value. Said taxes would go for the basics: schools, fire, courts.
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