The other option being the city just can no longer sustain itself and collapses, losing both business and residents. Voila, housing crash, and a lot of people out of a lot of money.
The only significant problem, and specific to that building, was the designers massively underspec-ed the cooling.
#Downside life supertall creaks breaks windows#
Or alternatively, as urban prices go up, so too do suburban and greater metro (now currently in full-swing), leaving fewer options for those living in a city metro area to take on more debt than they can handle. The windows there were double glazed (good for heat and noise insulation), and I guess the walls were fairly thick as noise from neighbours was never a problem.
Eventually, prices will get to the point where financing options for these investors will balk, leaving vastly overpriced condos unsold. It's not if, but when.Īs a lot of the market is being driven by "investment" (apparently about 25% of it, in fact- ), that bubble will pop sooner or later. Right now though, it's an "investment" free-for-all, and every speculator market finds its limits. But there there was a lot of natural growth driving it to begin with. The market pricing isn't being driven by long-term investment, it's being driven by airbnb micro-hoteliers, pre-con flippers and wannabe land barons looking to make a lot of money quickly.Īnd yeah, we've been hearing this for ages and it just keeps going up. The Down Side to Life in a Supertall Tower: Leaks, Creaks, Breaks 432 Park, one of the wealthiest addresses in the world, faces some significant design problems, and other luxury high-rises may share its fate. Or alternatively, as urban prices go up, so too do suburban and greater metro (now currently in full-swing), leaving fewer options for those living in a city metro area to take on more debt than they can handle. Click to expand.As a lot of the market is being driven by "investment" (apparently about 25% of it, in fact- ), that bubble will pop sooner or later.