Large blue city could see even higher housing costs with proposed plumbing regulation

New York City residents may soon face even higher costs in an already pricey housing market.

The New York City Council will vote on a bill Thursday that would require a licensed master plumber, or someone working under one, to perform all residential building inspections and replacements of gas appliances such as stoves and clothes dryers, FOX Business' Lauren Simonetti reported Wednesday on "Varney & Co."

"There's only about 1100 plumbers licensed in the city that match those qualifications, and they do not come cheap," Simonetti said.

Critics argue that the measure could drive up costs and create delays. They estimate it would add at least $500 to the price of installing or replacing a gas appliance, while also making it more difficult to schedule the limited number of qualified p