Unlimited Height, or Unlimited Hubris? The greatest Real Estate project ever!

Today, I want to make a bet with you, ok?

I bet that many of you reading this today will, in 12 to 18 months’ time, come back to me and say the following.

“Oh, wow, yeh I get now why you were so bullish about this real estate cycle back in 2024!”

Is that a fair bet?

I do feel confident making it though. I have said it from the very first newsletter I wrote to you this year: something big is happening.

I was so confident that the pieces would fall this year, which allowed the ultimate set-up for the peak of this cycle to play out.

All you needed to do was watch, be patient, and await the announcements to arrive.

Last week was one. This week, it’s another.

Surely, by the time you finish this newsletter, the following fact will dawn on you: that this cycle will be the single greatest wealth creation event, globally, that mankind has ever partaken in.

By studying the land markets the way I do, you can indeed be ready ahead of time for it.

And finally, the importance of knowing “how” and “when” it’s time to both profit and then protect yourself and your family’s financial futures.

So, really, it is up to you.

Nothing is going to interfere with or interrupt with what’s coming.

What are you going to do about that fact?

Read now just why that last sentence means so much to you now.

Over the last few years, I have built up a large suite of tools and indicators that I use to track the cycle as it turns. Of course, I should have those, after all that is my job!

It doesn’t mean you need something similar. In fact, you arguably just need one. And it happens to be the one I depend upon the most.

You just need to keep track of all the new proposed or under construction biggest, tallest, longest skyscrapers. No other endeavor sums up the credit creation cycle and the timing of the cycle better.

This is the simple tool I used to find what I’m about to write to you about here. Albeit I did first come across this a few months ago.

Look at the following headline.

From the article:

In a new proposal set out by AO and real estate developer Matteson Capital, the Boardwalk at Bricktown complex, if approved for construction, would be a 1,907 foot skyscraper that would officially be the sixth tallest building in the world right in the heart of downtown Oklahoma City.

Like many people, when I first mentioned this project, I was amazed by its location. Not in a major metropolis like New York, Chicago, or Los Angeles. But deep in middle America in Oklahoma City!

Now, there is actually a very good business and real estate-based rationale for this location.

Simply put, land in OKC is significantly cheaper than those other mega-cities.

This maximizes the margins and therefore the economic rent the developer can extract from such a development.

Since this news hit the headlines, there have been more groundbreaking proposals and developments all vying to be even more extravagant than the rest announced globally.

Again, none of this is any surprise to those of you who study the land markets. PSE’s own proprietary property clock tells you what to expect between 14:00 or 2pm (where we are currently) and 15:00 or 3pm. Lavish government spending and frenetic real estate activity.

And boy, haven’t we seen plenty of evidence this year of both.

It just so happened a few days ago I noticed in my social media feed yet another story about this Boardwalk complex. Having thought “seen this”, and just about to swipe it away off my phone screen, I looked closer at the headline.

What the actual #$*&!

I truly thought it was a typo. But then I read the article further.

“AO is delighted that the Oklahoma City Council has approved the development team’s request for unlimited height for the Boardwalk at Bricktown,” AO says in a statement. “We are grateful that the City Council has embraced the vision of Matteson Capital and the entire design team to transform the City into a global destination.”

So, as with many aspects of this current 18.6-year Real Estate Cycle, yet another first. I’ve never seen a building with “unlimited height” being approved for construction.

Until now.

And yet, that’s only half the true story here.

First off, let’s be serious here. Just what on earth does “unlimited height” even mean, practically?

Is this the first building ever created that can hold an unlimited number of tenants? You just need to keep adding floors?
To me, this represents some of the key signals that help signpost where we are in the cycle.

First, the term ‘unlimited’. Why would any council say such a thing? Well, before they did, no-one outside the mid-west of the US much cared, even heard, about Oklahoma City Council.

Now they are known globally.

This is yet another sign the hubris of the mania phase of the cycle has started. It also speaks to a prevailing belief in real estate. That it just cannot come down.

And with land prices continuing higher yet again in 2024, why wouldn’t they approve an unlimited height?

It just makes business sense to do so, particularly if land prices keep rising.

The other thing this should represent to you is one of timing. Do you think such a comment would have been uttered even four years ago, back in 2020?

Of course not! No-one had the stomach to approach regulators to ask for these types of development approvals. Much less obtain the necessary bank funding to get started.

That is not the world we live in today though, is it?

So, you should consider this Boardwalk Tower as the single most unique and important marker for the remainder of this cycle both in the US itself and across the world.

And you will do very well to continue to follow any news and announcements surrounding this project with sharp focus.

Not because you want to know just how high ‘unlimited’ is, but the more important fact that this development will show you how bank credit creation at this late stage of the cycle is building.

I mean, I can’t say for sure, but all the hype surrounding this could simply be with the aim of ensuring the finance needed is provided. OKC is not NYC 2.0.

Money is flowing here because it’s basically now impossible to make a sound business decision to build it in downtown New York. Land is now too expensive there. The profit margins simply don’t exist.

So, this means more regional areas are being sought to make the profit potential on offer worth the risk of committing to such projects. But they are regional areas for a reason. The gentrification levels are like less than 10% of those of NYC.

And for banks, this represents a real risk. What assurances do they have that this project will be completed on time? If there are delays or systemic issues with such a new project, can the developers still meet their contractual demands to pay the banks back?

Will those handful of key multi-national tenants that can anchor this project want to come to OKC?

Maybe, just maybe, it’s these bombastic announcements from OKC council that are designed to allay such fears. Remember, the ongoing benefits and kickbacks to the council should this open full of residential, commercial, and sporting tenants are massive.

There’s a vested interest here to ensure this all goes ahead. Again, I can’t say for sure, but I know this.

This cannot happen at any other time in the cycle than now.

We have entered hyper-bubble territory here, the first in human history. This is rapidly going completely over the top now.

And you have even less time to get your financial affairs in order.

So yes, closely follow this example from now on, but ask yourself – do you really know what it all means?

Just how far into debt can the world really go during this hyper-bubble? If this skyscraper does get built, what happens when it finally opens? Should I be bullish at that stage, or bearish?

Timing is critical now – here is where you get it, via membership to the Boom Bust Bulletin (BBB).

Let me teach you the secrets behind the timing of the 18.6-year Real Estate Cycle. Learn why such ridiculous, and quickly forgotten headlines like the one above, are telling you something much more important.

By applying the timing of over 200 years of real estate cycle history you will ‘see’ what 99% of market participants cannot know yet allows you to take full advantage of such timing to enrich and protect your family.

All for less than a takeaway cup of coffee a day, for just US$4 a month – incredible value.

Already, social media has lost little time taking this news viral.

Noting the coverage, esteemed architectural design magazine Dezeen said the following.

Commenters were largely unimpressed. “It’s going to take a helluva lot more than one very tall building for Oklahoma City to ‘transform the city into a global destination’,”… “These people are delusional,” they added.
Meanwhile, John Lakeman deemed it “just another out-of-scale, look-at-me, ego-trip design.”

Folks, raise yourself above such noise. Realize what this building truly represents.

This could very well be a marker for the speculative excesses of the coming credit tsunami and the arrogant and exaggerated self-confident behavior of most of the younger generations only now experiencing their first real estate cycle.

This announcement means something. Its completion date means something.

That something big is happening.

And you must be ready for it.

Let the masses argue on social media. Meanwhile, you stand ready to survive, and profit, from your knowledge.

That journey starts today. Right now.

So, sign up.