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Source link: http://blog.mises.org/6715/skyscrapers-and-business-cycles/

Skyscrapers and business cycles

June 5, 2007 by

Here is Arthur Foulkes writing about some of my research.

{ 1 comment }

John Delano June 6, 2007 at 12:46 pm

Many skyscrapers in the US are built after a certain percentage of the units are presold. This limits the risk to the developer. One of these new tallest (Chicago Spire) is planned for Chicago at 2,000 feet tall. The developer has said he will begin construction this month. He said he is going to build it without presales. He hasn’t really even started marketing it yet. Most of this developer’s work has been in Europe. I think large projects built on speculation are more common in some other countries.

http://en.wikipedia.org/wiki/Chicago_Spire

There have been a lot of new skyscrapers built or started in Chicago, and there are a lot more planned. There have been over 120 highrises completed this decade (2000s), 50-60 currently under construction and over 100 that are planned and announced. More plans keep coming out.

There is talk of a new world’s tallest in Dubai at over 1.2 kilometers.

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