“What makes risk so risky?”
To me, it’s the Federal Govt!
Year after year, for 50-60 years, 536 of these clowns (the Federal Government) have met in Washington in a thing called “Congress” and The Presidency.
The “cumulative effect” of all those Congresses and Presidents is the country is impossibly and irreparably broke and over-regulated.
So, the CE (cumulative effect) is, for me, a developer, that it is simply too Risky to borrow money and develop buildings. The “risk” as you say, due to the CE, is just “too risky” THANKS TO THE past sixty years of FEDERAL GOVERNMENTS!
So, where once my projects employed hundreds, I employ one person part time. Sad! How many thousands of guys like me are out there? Is the federal government the biggest job and future killer there is? I say yes!