POST 017 · CAUSAL CHAIN REFRAME
The permit is a price signal, not a permission slip.
Scrub the timeline. Every month the permit sits in review, carry costs compound — interest on land you already bought, consultants on retainer, GC idle. The permit isn't bureaucracy. It's a toll booth with a meter running.
Every month in review costs $85k in carry and erodes 15 bps of IRR. The permit clock is the most expensive clock in real estate.