But more importantly, I think if we really want to help lower cost as it relates to rent and affordability, is taking a look at what we can do on the regulatory standpoint. Because right now for new construction, One third of the cost of new construction is tied up in red tape and regulation. Now, obviously regulation plays a key role as far as safety, but I think we can take a look back, look at it and see what layers of that onion … (13:15–13:20)
CLAIM
Asserts that regulatory costs account for one-third of new construction expenses.
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