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Cake day: June 13th, 2023

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  • It refers to the annexes you see growing out of the back of the house. People used to (and sometimes still do) start with a modest house, and then as time went on and money came in, build out into the yard, adding a new kitchen, toilet, shed, veranda, etc.

    It has since also come to refer to things that get extended and patched up over time without a lot of coherence or forethought, like our tax codes (they just add rules, bonuses, penalties, etc. on top of the baseline instead of doing a thorough tax reform)







  • The meme may be true, but it is less meaningful than you might assume at first glance. The obvious comparison is those memes comparing wages or dollar values with house prices, where obviously inflation has made a huge difference in 100 years. However, you should compare it to other types of investment, so does a stock index grow as fast as home prices or not?