Quote of the day: Investing in art

When the market goes south, people look for strong investments that do not lose value. Some people will buy art, and this is somewhat like art. These are 1,194 completely unique pieces, and once you buy your unit, no one else will ever have that. Sales are not in a position of slowing down at all, as evidenced by the penthouse sale.

– A spokeswoman for Dublin-based development company Shelbourne Development Group, from today’s Globe St article about construction stopping at The Chicago Spire. The last couple of articles we’ve linked to in our Spire updates quoted Shelbourne representative Kim Metcalfe as saying that work on the tower had “slowed,” but that underground utility work would continue. The Globe St article features a similar quote about “slowing,” but also comes right out and says that construction will not move forward at all “until the economy improves.”

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