"Death by a thousand cuts is a useful expression in New York real estate, where cumulative regulatory costs, like those from Local Law 152, can outweigh their intended safety benefits."
"The City Council does not perform cost-benefit analyses before voting on regulations, which leads to unexamined expenditures that could be better allocated to pressing needs like housing affordability."
"While regulations such as Local Law 152 aim to prevent gas explosions, the collective burden of these mandates often goes unnoticed, impacting public health and housing costs."
In New York real estate, regulations like Local Law 152 impose significant costs for safety inspections, which accumulate over time. While these laws aim to prevent disasters, their collective burden often goes unnoticed. The City Council does not conduct cost-benefit analyses, leading to unexamined expenditures that could be better allocated. High housing costs, exacerbated by such regulations, contribute to public health issues, including fatalities from overcrowding and malnutrition. The financial impact of these laws raises questions about the true value of safety versus affordability.
Read at therealdeal.com
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