“Is there truth to the skyscraper curse? I would say yes," said Lucas Engelhardt, an associate professor at Kent State University who co-authored a journal article last year about the theory. "Especially if you see a cluster of these buildings being planned, that’s a pretty good sign there’s something coming."And also:
Under some interpretations of the skyscraper curse, proposals for tallest buildings are harbingers for recessions because they can demonstrate behaviors that tend to signal the high point of an economic expansion, such as heated speculation, easy lending and eagerness to take on debt. By the time such projects get under way or have finished, the economy may be contracting.
“It’s a pretty good indicator that you’re nearing the peak," Engelhardt said.
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