Get Your Skyscraper Right Here!

New York skyscrapers are selling like hotcakes:

OIL PRIZE: ABU DHABI TO BUY CHRYSLER BUILDING

EURO POWER: Italian company buys New York's Flatiron Building...

Some people get upset about this stuff, but I remember back in the 90's when people were panicking because the Japanese were buying up real estate in America in huge quanities. They even bought the Pebble Beach Golf Club. Nine years later they sold it at a huge loss, as was the case with much of the property the Japanese were buying in the early 90's. They got creamed.

If foreigners want to buy these old, inefficient buildings, let them. We'll build some new stuff with their money.