Quote Originally Posted by okcrun View Post
Seems like that's generally how most supertall buildings that are announced end up. Announced near the top of an economic boom and then by the time they are finally ready to start construction we are in a recession and all they have to say is economic conditions make it no longer feasible. I'm hopeful Hyatt has at least committed enough money for the smaller towers to get built.
Actually, recessions can actually help. Many of these extremely large developments incomes are projected out over long terms, but can take advantage of lowered interest rates in construction and for permanent financing that are often associated with slow economic times. And, we tend to create tax incentives for real estate development to help pull us out of the downturns. Given the time to construct, these projects then complete as the economy is in recovery or soon to be in recovery. If you have the ability to get financed or draw investors during bad economic times you can do very well. Like other investments… buy at the bottom, sell at the top.