tALK oF tHE cITY By the time those skyscrapers are finished, the - TopicsExpress

tALK oF tHE cITY By the time those skyscrapers are finished, the economy has slipped into recession For starters, the looming arrival of Sky City and the $1.7-billion Shanghai Tower, financed by shareholders and loans, has prompted analysts to revisit the Skyscraper Index, a 1999 model pinning the arrival of every new World’s Tallest Building of the past 150 years to monumental economic collapse for the country in which it is built. The topping out of the Empire State Building preceded the Great Depression in 1929, for example, and Dubai’s Burj Khalifa the Middle East debt crisis of 2009. “Skyscraper construction is characterized by bursts of intense activity with easy-to-get credit, rising land prices and excessive optimism,” Barclays Capital analyst and Skyscraper Index creator Andrew Lawrence once explained to CNN, “but by the time those skyscrapers are finished, the economy has slipped into recession."

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