How Insurance Costs Make NYC Construction So Expensive
Episode publishedPodcast: Odd LotsOdd Lots
Transcript preview
Preview only
UKG. Their HR, pay, and workforce management tools help business leaders empower their people. Because when work works, everything works. Learn more at ukg.com/work.
Being a small business owner isn't just a career, it's a calling. Chase for Business knows how much heart and effort go into building something of your own. Manage all your business finances, from banking to payments to credit cards, all in one place with Chase's digital tools. Plus, access online resources designed to help your business thrive. Learn more at chase.com/business. Chase for business. Make more of what's yours. The Chase mobile app is available for select mobile devices. Message and data rates may apply. JPMorgan Chase Bank NA. Member FDIC. Copyright 2026. JPMorgan Chase and Comp
This podcast is brought to you by Wise, the smarter way to manage your money internationally. If you're getting a headache from juggling different currencies and different bank accounts in different countries, there's a better way to receive money in the currency you need without the slow transfer times or hidden fees. Meet Wise, the savvy way to handle your money internationally. Hold balances in up to 40 currencies with the mid market exchange rate on every conversion, whether you're receiving payments from tenants abroad, earning as a digital nomad, or converting dividends from your interna
Bloomberg Audio Studios. Podcasts, radio, news.
Hello, and welcome to another episode of the Odd Lots podcast. I'm Jill Weisenthal.
And I'm Tracy Allaway.
So Tracy, everyone is very into affordability these days and the cost of living and all that stuff. But I think there's all kinds of things you can do and whatever. But it seems like one fundamental thing, which is probably true, is whatever we're talking about, whether it's building infrastructure for public transportation, whether it's building offices, whether it's building houses, There's various costs involved, but one is just the cost of construction. If the cost of construction is very high, it's hard to imagine affordability improving much on anything. Does that seem fair?
Absolutely. I can't really debate that point, but it does seem like construction is this one area where so many different things come into play. So you have the cost of basic materials, which have gone up, especially since the pandemic. You have the cost of labor, has which also gone up since the pandemic. You have the cost of insurance, which has also gone up since the pandemic. You have regulations, which we've done many, many episodes about the added costs from the permitting process for various things. It just seems like it's this bucket where you can throw all these different factors in a
Yeah, totally. And then you sort of hit it with the insurance, also just cost of financing, because as interest rates go high,
Keep exploring with a free account.
A free account preserves the short preview. Upgrade to Pro for the full transcript and episode chat.