Rick Herd: Naylor Love Chief Executive on the decrease in building activity

New data shows building activity is down 2.3% on the last quarter.  Naylor Love Chief Executive Rick Herd blames the drop on a decrease in commercial property activity due to the high cost of building.  He told Mike Hosking that a lot of the private development work that was happening previously is on hold, as developers wait for interest rates to drop.  But the total building value is $9.3 billion, up slightly on the same period last year.  LISTEN ABOVE See omnystudio.com/listener for privacy information.