The project's cost estimate includes base cost, contingency cost, cost to cushion the effect of future market condition and escalation.
During the high times, of course, when every wood-frame bungalow in the San Fernando Valley held the promise of Apple stock in 1997, channels like HGTV and Bravo fostered our faith in a market of seemingly limitless escalation.
It is, as he puts it, "the protection afforded by the New York rent-control law to residents like myself from the escalation in market price that is pressuring so many of us to leave a community we can no longer afford".
One indicator of an overheated art market is an irrational escalation in the rate of price increase, beyond discernment of the critical factors of authenticity, quality, condition and rarity.
Global markets reacted to the escalation in tension, buying safe-haven assets such as gold, the Swiss franc and even the Japanese yen on expectation domestic investors would bring large amounts of currency home in times of uncertainty.
Table 3 summarizes the main items in the cost estimate: Table 3 Project's cost estimation Item description Cost, million USD Bases estimate 99.7 Future market condition 3.70 Contingency 13.37 Escalation 4.25 Total 121.02.
The question on many people's minds is how the nation's financial markets will respond to an escalation of what is already an ugly political brawl.
The volatility suggested that traders will see more of the escalation in energy markets that marked the final months of 2007, when crude oil shot past $80 and then $90 in a matter of weeks before fears of a recession in the United States halted what appeared to be an inevitable march to $100 in early December.
UGBs only have small effects on the agglomeration economy but could worsen land market distortions via residential rent-escalation effects.
"It's going to be a challenging market," said a third, and the escalation stopped there.
