If you doubt me, come to midtown Manhattan during an August heat wave and feel the blast of hot air from vents on buildings and the street.

CNN: Why we should expect more weather disasters

The catch is that property developers are turning the decrepit buildings, abandoned when most businesses fled a crime-wave for the northern suburbs in the early 1990s, into swanky apartment blocks, and property prices have been rocketing.

ECONOMIST: Struggling to cope with too many people

In one of the worst hit regions, Indonesia's Banda Aceh still bears scars from the wave -- you see it in the twisted metal, in the gutted buildings and the naked foundations where homes once stood.

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