Tuesday, December 02, 2008

Last Gasp of Easy Money?

This is the Burj, in Dubai. It is to be the tallest building in the world. The crane operator at the tippy top of the construction is said to have not set foot on terra firma  for the last 5 years...it just takes too long to travel up to work each day.
There is no market for this building, no large group of companies clamoring for acres of space on the upper floors, and nothing to see from up there except sand and the flat waters of the Gulf anyway. This is being built because someone had the money.
Not a good sign. Anyway, here it is in context:

Disturbing, is it not?

No comments: