Stocks and Skyscrapers Here We Go Again
by Editorial Staff
Updated: January 14, 2022
The plan to build the Empire State Building was announced to the public in August 1929. A few months later, the high-flying stock market crashed.
At the time, it seemed like a coincidence. But there have been more than one example suggesting a curious correlation between the timing of record highs in the stock market and proposals for building new skyscrapers.
Watch our Financial Forecast co-editor Pete Kendall discuss the latest proposal for an "upside-down" skyscraper in New York City.