Hawking back to this debate in this blog between Jim Rogers and James Chanos on whether there is a bubble brewing in China's real estate market, this gem of a new indicator joined the discussion.
Does the building of skyscrapers, especially really tall ones, precede a bubble popping? It sure looks that way in the past, but that is no indication of the future.
The author of this idea, Vikram Mansharamani, has a new book called Boombustology and I'm going to review it here soon. That's him in the picture, by the way.
In the meantime, his thinking makes a great deal of sense. Capital investment is usually highest at the top of a bubble market so trophy projects that soak up lots of cash would be one genuine sign of a bubble.
I can't wait to read his new book.