| Debt is part of the financing of a project, not a 'challenge in building them'. Comparing the debt of one group to an arbitrary other doesn't help so much, because what matters are interest rates, revenue to pay principal and interest rates, stability of tat revenue, other covenants, penalties, and of course cost of capital. FYI Jordan, Jamaica and Kenya would carry a lot more debt if they possible could. If some agency in NYC has a huge amount of debt from credible lenders it might be a 'good sign' they they are actually worthy of it. FYI, I think the article does a good job at it: "“People will say to me, ‘Why are MTA construction costs so high?’ And the answer is ‘Everything,’ ” says Julia Vitullo-Martin, a senior fellow at the RPA and co-author of its 2018 report comparing New York’s construction costs to those in peer cities. “Every factor you look at is flawed the way the MTA does business, from the first step to the end.” I love this level of candor in people who are willing to speak publicly. |
When I compare (software) projects amongst different locations I worked at, things vary so so much. Making those comparison somewhat misleading at best.
I don’t see how comparing the costs between systems that have so different requirements, labor markets, legacy infrastructure, regulamentation agencies, can help much but I am not an expert on this subject by far.