August 20, 2009

Sky High, Dow Low

Mark (#18, 2009)

In the history of modern capitalism, the direct connection between office towers and speculation is undeniable. Skyscrapers, as the most expressive typology of office buildings, are like amplitudes from glass and steel, reflecting the extremums at the stock exchange. Yet, in the unpredictable financial jungle seems to exist a simple rule: the hotter the market, the higher the building and the superlatives in building heights are followed by superlatives in markets lows.
After a crash it takes decennia’s to recover since buildings, unlike stock market values, don’t go down and remain for decades waiting for tenants. In the current Credit Crunch it is time to back off and hold out once more. Thus next time, in 20 to 40 years, when the fever starts again and a super tall tower appears on the architect’s drawing board which should replace the “Burj Dubai” as world’s tallest building, please remember and sell your stocks.

Producer: Theo Deutinger, Laura Polidoro