The property bubble in Dubai, the business hub of the United Arab Emirates, is bursting as investors start to dump assets, a report says.Didn't the Doobabs just have a party celebrating how rich they are?
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| Arabia |
| Dubai property market 'near collapse' |
| 2008-12-06 |
| The property bubble in Dubai, the business hub of the United Arab Emirates, is bursting as investors start to dump assets, a report says. Didn't the Doobabs just have a party celebrating how rich they are? |
| Posted by:Fred |
| #9 PIMF If they have great buildings and good sanitation infrastructure, then they have something. If not, they are basically full of sh*t, literally and figuratively. |
| Posted by: Alaska Paul 2008-12-06 17:27 |
| #8 Coming from a water and sewer guy (a Pisces, too), I say, first look at their infrastructure. It is the non glamorous part that holds up the rest. Do they have good water treatment and distribution? Do they have good wastewater collection and treatment? If they have great buildings and little sanitation infrastructure, then they have something. If not, they are basically full of sh*t, literally and figuratively. |
| Posted by: Alaska Paul 2008-12-06 17:26 |
| #7 Maybe we'll be next Big Jim, We're already two years ahead of everyone else in the real estate market. The re-fi market is already starting to revive. So we're back to pulling the entire world out recession with our big, strong shoulders. Of course, the world will be as grateful as they usually are. Al |
| Posted by: Crenter Grundy9307 2008-12-06 13:05 |
| #6 What's holding it back? Dubai is one of the most bubbley places around. So,why aren't the hand baskets all lined up in front of the gates of Hell? Now, it's not really bad until there are places where the terrorists are gathered, crying out for 'alms for the poor Warriors of Jihad. Then! I'll be impressed about how bad things are. |
| Posted by: Richard of Oregon 2008-12-06 11:17 |
#5  |
| Posted by: GolfBravoUSMC 2008-12-06 10:05 |
| #4 Seriously though, is Dubai not synonymous with conspicuous excess? Who couldn't have seen this coming? Financial 'experts' never fail to astound me, they NEVER see the train till its two feet from them, never. |
| Posted by: bigjim-ky 2008-12-06 09:09 |
| #3 I thought AMERICA, the great, fat, stupid, imperialist oppressor was supposed to be the first and most spectacular failure among nations? Maybe we'll be next. |
| Posted by: bigjim-ky 2008-12-06 09:05 |
| #2 Gulf goes down, so does Pak and lots of India since there's a ton of remittance money going back to the subcontinent from there. The key will be when you start hearing about "excess workers being returned to country of origin." When you see that message, just figure there are lots of Pakis and Indians, and a fair number of Filipinos, wondering how long the savings can last and where their next meal will come from once it's gone. |
| Posted by: Jolutch Mussolini7800 2008-12-06 08:17 |
| #1 Must have smelled that sewage pit we were discussing the other day. |
| Posted by: 3dc 2008-12-06 02:31 |