The Skyscraper Index - Impending Doom?
This is an interesting storey from Jason Barr regarding the construction of highrise towers and skyscrapers and their signalling of impending economic doom and destruction due to their enomorous size. He states that once, a city reaches out for having the tallest tower, it signals certain economic doom for that city. The Bigger they are the harder they will fall, or at least this is what the Skyscraper Index is supposed to fortell, and it has been in existance in some form or another for 140 years. Which is basically from the birth of the Skyscraper.
If true, it would mean, that the countries currently building the tallest skyscrapers, which are China and India, are destined for economic collaspe although, I would be weary of making that connection as China at the moment is the glue that is holding the worldwide economy together, as both the United States and Europe flirt with further monetary and fiscal uncertainity.
China currently has half the worlds buildings, taller than 240 meters and it currently has another 66 in the next 6 years. Somthing very scary, if you believe in those kind of doomsday end of world things. If it does follow through on those plans, China will have increased it's dotal of over 240 meter towers from 75 to 141.
Andrew Lawrence created the Skyscraper Index, and he is the director of property research at Barclay's Capital in Hong Kong. And he states "Skyscraper Construction is characterized by burst of intense activity with easy-to-get-credit, rising land prices and excessive optimism. But by the time those skyscrapers are finished, the economy will have slipped into recession" If his analysis is accurate then, China and India will have slipped into economic downtown by sometime around the end of this decade.