Real Estate is “real”

In contrast to confusion over who owns a property, are Western nations that have developed the structures that allow property to be leveraged for economic development. Here is more from Fernando De Soto in The Mystery of Capital.

The recognition and integration of legal property rights was a key element in the United States becoming the most important market economy and producer of capital in the world… The six effects of an integrated property process mean that Westerners houses no longer merely keep the rain and cold out. Endowed with representational existence, these houses can now lead a parallel life, doing economic things that could not have been done before.

Citizens of advanced nations are thus able to split their assets into shares, each of which can be owned by different persons, with different rights to carry out different functions. Thanks to formal property, a single factory can be held by countless investors, who can divest themselves of their property without affecting the integrity of the physical asset.

Perhaps rather than sending billions of dollars of aid to developing nations we should provide finances for their young people to get legal training in property law to put these legal structures in place so the people can prosper. Such laws also protect ownership as many people(s) have suffered the taking of their land unjustly as well. This is stealing and God cannot bless land that is taken from others unjustly. Though some cultures celebrate common ownership of land, in most cases this does not allow for economic prosperity. The idea of private property rights is embedded right in the Ten Commandments. “You shall not steal” and “You Shall Not Covet” underline this principle. God’s plan is individual ownership and stewardship.

Land is on God’s heart. It is a key to how he prospers his people. Our experience has been one where the most significant increases in our personal net worth have come as the result of real estate transactions. If you don’t own land it is very likely that God wants to help you get some. If you own land possibly God wants to give you more. Rick Joyner states that the great thing about Real Estate is that it is “real”. It not a piece of paper related to a stock option purchase in a market somewhere. It is real. You can go there and walk on it. You can grow corn on it if you want.

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