-
Pride and skyscrapers cometh before the fall
An "unhealthy correlation" exists between the construction of skyscrapers and financial crashes, according to a new report from Barclays Capital. The construction of the Empire State building in New York in 1930, along with towers in Kuala Lumpur in 1997 and Dubai in 2010 have all been followed by economic crises, the report noted. "Often the world's tallest buildings are simply the edifice of a broader skyscraper building boom, reflecting a widespread misallocation of capital and an impending economic correction," it said. "The completion of Petronas Towers in Kuala Lumpur in 1997 was followed by a region-wide ... (full story)