Riskgaming
Why does America have the most expensive elevators in the world?
Dec 6, 2024
Stephen Smith, executive director of the Center for Building and author of a viral NYT op-ed, dives deep into America's soaring elevator costs, revealing they can be four times more expensive than in Europe and Asia. He discusses the tangled web of building codes and zoning laws that inflate prices and hinder urban accessibility. The conversation also touches on the inefficiencies of U.S. construction methods and how adopting international practices could revolutionize the industry. Smith calls for a reevaluation of standards to improve affordability and innovation.
42:09
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Quick takeaways
- The high costs of elevators in the U.S. are driven by oversized dimensions and labor inefficiencies compared to global standards.
- The lack of harmonized building regulations in America restricts competition and prevents cost-effective solutions from foreign companies.
Deep dives
The Rise of Elevators and America's Elevator Problem
Elevators have transformed urban architecture, particularly in the last century, with their integration enabled by the rise of electricity. However, the United States is facing a significant elevator issue, with costs soaring to three or four times higher than those in countries like Spain. This disparity often results in buildings lacking elevators, as developers aim to mitigate financial pressures tied to inflation in the construction industry. The discussion highlights the need for reevaluating the construction process in America to address this critical problem.
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