Construction Costs Are Skyrocketing (...faster than inflation)

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Inflation is bad, but somehow construction costs are increasing even faster than the CPI would suggest. This is a major problem and doesn't appear to be slowing down. Construction projects are taking longer now than they did 100 years ago, despite all the new technology. Overregulation and red tape is adding cost and making building virtually unaffordable in many cases.

This can be seen very clearly when one compares construction of the Empire State Building to the construction of 1 World Trade Center. Both supertall buildings dominate the NY skyline but the Empire State Building took 1/8th of the time and 1/6th of the inflation adjusted cost to build (...again, despite 100 year old technology).

Ultimately three of the main issues that need to be addressed are overregulation, skilled labor shortages and rising raw material costs. Each can be controlled, if governments are willing to make the necessary changes.

Chapters
0:00 - Intro
0:44 - Similarities Between The Empire State Building vs 1 World Trade Center
1:45 - Comparing Construction Timelines (ESB vs 1WTC)
2:24 - Comparing Construction Costs (ESB vs 1WTC)
3:03 - Overregulation and Red Tape
4:05 - Comparing Safety Records (ESB vs 1WTC)
5:20 - Will Construction Costs Keep Going Up in America?
6:10 - What Can Be Done To Reverse The Trend?
8:00 - Conclusion
8:35 - Quick Message To The Viewers
9:33 - Thanks for Watching!