This piece from Bloomberg, which quotes me from here on the skyscraper as business cycle indicator, was reprinted in many outlets overnight, including the International Herald Tribune.
Source link: http://blog.mises.org/6004/the-curse-of-the-skyscraper/
The Curse of the Skyscraper
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Add Calgary to the list of cities with new skyscrapers. Encana recently unveiled plans to build the largest skyscraper in western Canada, and Imperial Oil is considering a tower of their own. It should get interesting when it’s revealed that all these investments were not funded through actual savings!
One could see this in early Renaissance Italy, where newly wealthy families would try and outdo each other by building taller towers, particularly in San Gimignano. On the other side, the Ryugyong Hotel seems a perfect symbol for North Korea.
How about this, Tim Blixseth is going to build a 53,000 square foot home at his exclusive Yellowstone club in Montana. At 155 million dollors it is to be the most expensive home, ever. Work is to start June of 2007. Planned, financed, and built during a housing slump.
How about this, Tim Blixseth is going to build a 53,000 square foot home at his exclusive Yellowstone club in Montana. At 155 million dollors it is to be the most expensive home, ever. Work is to start June of 2007. Planned, financed, and built during a housing slump.
Don’t forget WTC version 2.0
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