Example:

(with-inotify (inot `((,(user-homedir-pathname) ,in-create)))
  (read-events inot))
  
blocks

 $ touch ~/file

 =>
(#S(EVENT
    :WATCH #<WATCH pathname: #P"/home/stas/" mask: 256>
    :MASK 256
    :COOKIE 0
    :NAME "file"))