Through my research on elevators, I got a glimpse into why so little new housing is built in America and why what is built is often of such low quality and at high cost. The problem with elevators is a microcosm of the challenges of the broader construction industry — from labor to building codes to a sheer lack of political will. [...]
It’s become hard to shake the feeling that America has simply lost the capacity to build things in the real world, outside of an app.
— The New York Times
Stephen Smith, through the New York nonprofit Center for Building in North America, has been exposing variables that undermine the housing market's intricate calculus in the form of building codes, cost of labor, zoning regulations, and the construction industry.
He says: "Elevators in North America have become over-engineered, bespoke, handcrafted and expensive pieces of equipment that are unaffordable in all the places where they are most needed. Special interests here have run wild with an outdated, inefficient, overregulated system. Accessibility rules miss the forest for the trees," adding, "The United States and Canada have also marooned themselves on a regulatory island for elevator parts and designs."
Last year, New York City became the most expensive construction market in the world, with an average cost of $506 per square foot, according to an analysis from Baruch College's Zicklin School of Business.
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