“Living” and “Prevailing” Wage Laws on City contracts and projects with city involvement will cause New York’s already extremely high construction costs to rise even further. Since nearly every development project has some city component, due to the affordable housing mandates that are added, this will further cause an increase in the price of real estate development. Is that something we need now? Already, there are decent claims that the Barclay’s Center project was nearly unprofitable, because of spiralling construction costs. We’re not going to get more affordable housing unless we can build cheaply.