So many skyscrapers are being built right now that there has emerged a shortage in the special glass panels that forms the exterior of most modern skyscrapers.There are more than 100 skyscrapers currently under construction that are designed to be over 1000 feet tall with the tallest one designed to be 1000 meters tall. With all this construction under way there has emerged a shortage of the specialized glass panels that form the exterior of most modern skyscrapers. This probably means that production capacity is probably being built and of course higher prices for the glass panels themselves. Glass prices are up 30-40% and glass makes up almost 25% of the construction costs.
Here and Now reports that in New York City office space construction is at a 25 year high, glass prices are up significantly and new glass production capacity is being built just as the Austrian Business Cycle theory would predict.
