Building hubris

This interesting piece in The Guardian, which reports on a study by Barclays in Hong Kong that is predicting an impending financial crash in China based on its mad rush of skyscraper building. Indeed, such trend indicates excessive credit in the financial system, as well as rising property prices to justify building taller and a generally over-optimistic mood amongst the real-estate sector. The skyscraper building trend has been a reliable predictor of real-estate crashes in the past.