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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: marginmike who wrote (54328)	8/10/2002 10:06:21 AM
From: Clappy	Read Replies (1) \| Respond to of 65232

I realized it might have sounded that way after the 15 minutes up edit time expired. <g> Your restaurant website is cool. I like the music. The place looks chic and hip. Nice, clean, and open. I'll let you know when I'm in the area. We've been busy up on 80th St. and East End Ave. Three people chipped in and bought a small building and tore it down. Now they are building a 6 story building with three huge apartments with a lot of state of the art stuff to go inside. One of the cool features of the place will be the ability for them to pull their car into what will look like a garage, but instead it will actually be an elevator which will lower itself to the basement where there will be enough room for at least 6-8 cars. There will be a lot of smart home technology used. I'll be anxious to see if any of it will be made with ELON type of chips. I hope this boom doesn't slow down in NY for a while, although I'm beginning to see early signs of it. Budgets seem to be getting tighter. General Contractors are shopping around a little bit more. It begins to get us nervous. Especially with the huge increases in insurance. Even if we have to lay off a few people, we still have those high insurance premiums until the next audit, along with everything else that gets paid while they are off. If you ask me, those insurance companies are really milking the 9-11 catastrophy. Prices have really jumped. In addition, the lawyers have made it so that now liability insurance is sky high. Now we can get sued if some other trades person trips or hurts themself in an area where we are doing work. Used to be that the trades person would get workers comp and that was it. Now they can look for a way to take a fall and sue a contractor. This is going to cause a huge jump in the price of construction. I wonder if it will be enough to slow down the rate of renovations and building.