The Dubai Property Collapse Continues...
Nov 27th 2008, 6:25 am
#16
Go on.. Pull my finger..
Joined: Jul 2008
Location: Dubai
Posts: 5,726
Re: The Dubai Property Collapse Continues...
I think dxbdude was a bit confused. He reported that he had 'called the bottom' and the Dow has now risen for 3 or 4 sessions in a row.
I did not have the heart to point out that the Dow is in the USA and not Dubai, and that it has almost no direct correlation to the economy of the UAE. And besides, I suspect we will see a few more hairy moments before the Dow really bottoms out.
I had to laugh when dxbdude mentioned AMEINFO as though it was some kind of reliable news source. There is bloke who was co-founder and a frequent columnist called Peter J Cooper who is an absolute hoot.
http://arabianmoney.net/
Honestly the guy has been relentlessly denying even the remotest possibility of a crash in Dubai for the last 3 years. This is my all time fave, and it's a long list of cluelessness:
http://arabianmoney.net/2008/11/12/u...om-buy-villas/
Buy villas! Please. Please. Please buy my villa. Pretty please.
And then 8 days later:
http://arabianmoney.net/2008/11/20/s...-realty-crash/
"When Dubai’s biggest mortgage lender Amlak Finance announced yesterday that it had suspended all new home loans, it is time to acknowledge what is quite obvious to any observer: the Dubai property boom has crashed. There are no sales, except at very distressed prices, and new project launches have flopped completely this autumn."
No sh1t sherlock! You could not see it a week ago?
He removes all negative comments from his blog too. He obviously subscribes to the UAE version of freedom of the press in which you are free to post absolutely anything you like that agrees with the official line.
I did not have the heart to point out that the Dow is in the USA and not Dubai, and that it has almost no direct correlation to the economy of the UAE. And besides, I suspect we will see a few more hairy moments before the Dow really bottoms out.
I had to laugh when dxbdude mentioned AMEINFO as though it was some kind of reliable news source. There is bloke who was co-founder and a frequent columnist called Peter J Cooper who is an absolute hoot.
http://arabianmoney.net/
Honestly the guy has been relentlessly denying even the remotest possibility of a crash in Dubai for the last 3 years. This is my all time fave, and it's a long list of cluelessness:
http://arabianmoney.net/2008/11/12/u...om-buy-villas/
Buy villas! Please. Please. Please buy my villa. Pretty please.
And then 8 days later:
http://arabianmoney.net/2008/11/20/s...-realty-crash/
"When Dubai’s biggest mortgage lender Amlak Finance announced yesterday that it had suspended all new home loans, it is time to acknowledge what is quite obvious to any observer: the Dubai property boom has crashed. There are no sales, except at very distressed prices, and new project launches have flopped completely this autumn."
No sh1t sherlock! You could not see it a week ago?
He removes all negative comments from his blog too. He obviously subscribes to the UAE version of freedom of the press in which you are free to post absolutely anything you like that agrees with the official line.
Nov 27th 2008, 7:12 am
#17
Just Joined
Joined: Nov 2008
Posts: 6
Re: The Dubai Property Collapse Continues...
I got a billion more I got a billion more aliases 
I know you will all report me. I know its forbidden to express an opinion against the general consensus. I know if people insult you here and your rude back they will take the time and effort in their small life’s to report you. I know i deserved to get banned but come on admit the paper bag comment was funny -mildly amusing at worst.
MY THOUGHTS ARE CORRECT – ITS NOT A WIND UP – BUY DUBAI AT HALF PRICE OR REGRET IT.
I know that this discussion is a support group for people with low self esteem who have suffered. I know its been hard over the past 5 years, I know you told everyone not to buy Dubai property since 2002 and sat there at work while your colleagues and juniors became millionaires then multimillionaires.
I know its good for you now that prices are descending and finally you don’t look foolish – for a moment in time – I know you hate me for saying there is opportunity and that I put forward an argument you can not rebuff so all you can do is point out spelling mistakes…
Im feel bad for you that the UAE will breeze though this down turn and you will go back to feeling inadequate and foolish as prices rebound and your rents increase.
I tried to impart some advise – it didn’t work – and im glad cause most of you need to leave dubai and go back to Wigan were everything makes sense. . . for you.
I know you will all report me. I know its forbidden to express an opinion against the general consensus. I know if people insult you here and your rude back they will take the time and effort in their small life’s to report you. I know i deserved to get banned but come on admit the paper bag comment was funny -mildly amusing at worst.
MY THOUGHTS ARE CORRECT – ITS NOT A WIND UP – BUY DUBAI AT HALF PRICE OR REGRET IT.
I know that this discussion is a support group for people with low self esteem who have suffered. I know its been hard over the past 5 years, I know you told everyone not to buy Dubai property since 2002 and sat there at work while your colleagues and juniors became millionaires then multimillionaires.
I know its good for you now that prices are descending and finally you don’t look foolish – for a moment in time – I know you hate me for saying there is opportunity and that I put forward an argument you can not rebuff so all you can do is point out spelling mistakes…
Im feel bad for you that the UAE will breeze though this down turn and you will go back to feeling inadequate and foolish as prices rebound and your rents increase.
I tried to impart some advise – it didn’t work – and im glad cause most of you need to leave dubai and go back to Wigan
were everything makes sense. . . for you.
Nov 27th 2008, 7:17 am
#18
banned
Joined: Oct 2008
Posts: 7,611
Re: The Dubai Property Collapse Continues...
why dbx and not dxb..
Nov 27th 2008, 7:17 am
#19
Just Joined
Joined: Nov 2008
Posts: 6
Re: The Dubai Property Collapse Continues...
There are no sales any ware – in the world- its not a UAE thing. Everything is relative. This is one of the few places where GDP and population is actually growing – even if its at a slower rate because of a global financial crisis…. Take advantage of the cheap prices while they last – simple really….
Nov 27th 2008, 7:17 am
#20
Viva la revolucion..
Joined: Jul 2007
Location: Dubai / NY
Posts: 691
Re: The Dubai Property Collapse Continues...
Nov 27th 2008, 7:21 am
#21
**** it we'll do it live
Joined: Oct 2004
Location: Dubai
Posts: 7,892
Re: The Dubai Property Collapse Continues...
I got a billion more I got a billion more aliases
I know you will all report me. I know its forbidden to express an opinion against the general consensus. I know if people insult you here and your rude back they will take the time and effort in their small life’s to report you. I know i deserved to get banned but come on admit the paper bag comment was funny -mildly amusing at worst.
MY THOUGHTS ARE CORRECT – ITS NOT A WIND UP – BUY DUBAI AT HALF PRICE OR REGRET IT.
I know that this discussion is a support group for people with low self esteem who have suffered. I know its been hard over the past 5 years, I know you told everyone not to buy Dubai property since 2002 and sat there at work while your colleagues and juniors became millionaires then multimillionaires.
I know its good for you now that prices are descending and finally you don’t look foolish – for a moment in time – I know you hate me for saying there is opportunity and that I put forward an argument you can not rebuff so all you can do is point out spelling mistakes…
Im feel bad for you that the UAE will breeze though this down turn and you will go back to feeling inadequate and foolish as prices rebound and your rents increase.
I tried to impart some advise – it didn’t work – and im glad cause most of you need to leave dubai and go back to Wigan were everything makes sense. . . for you.
I know you will all report me. I know its forbidden to express an opinion against the general consensus. I know if people insult you here and your rude back they will take the time and effort in their small life’s to report you. I know i deserved to get banned but come on admit the paper bag comment was funny -mildly amusing at worst.
MY THOUGHTS ARE CORRECT – ITS NOT A WIND UP – BUY DUBAI AT HALF PRICE OR REGRET IT.
I know that this discussion is a support group for people with low self esteem who have suffered. I know its been hard over the past 5 years, I know you told everyone not to buy Dubai property since 2002 and sat there at work while your colleagues and juniors became millionaires then multimillionaires.
I know its good for you now that prices are descending and finally you don’t look foolish – for a moment in time – I know you hate me for saying there is opportunity and that I put forward an argument you can not rebuff so all you can do is point out spelling mistakes…
Im feel bad for you that the UAE will breeze though this down turn and you will go back to feeling inadequate and foolish as prices rebound and your rents increase.
I tried to impart some advise – it didn’t work – and im glad cause most of you need to leave dubai and go back to Wigan
were everything makes sense. . . for you.breeze through downturn.........
Nov 27th 2008, 7:27 am
#22
Just Joined
Joined: Nov 2008
Posts: 6
Re: The Dubai Property Collapse Continues...
the first funny thing you posted.... brilliant....
Nov 27th 2008, 7:28 am
#23
Just Joined
Joined: Nov 2008
Posts: 6
Re: The Dubai Property Collapse Continues...
they still didnt ban me !!!!.... LOL
Nov 27th 2008, 7:30 am
#24
Viva la revolucion..
Joined: Jul 2007
Location: Dubai / NY
Posts: 691
Re: The Dubai Property Collapse Continues...
I got a billion more I got a billion more aliases
I know you will all report me. I know its forbidden to express an opinion against the general consensus. I know if people insult you here and your rude back they will take the time and effort in their small life’s to report you. I know i deserved to get banned but come on admit the paper bag comment was funny -mildly amusing at worst.
MY THOUGHTS ARE CORRECT – ITS NOT A WIND UP – BUY DUBAI AT HALF PRICE OR REGRET IT.
I know that this discussion is a support group for people with low self esteem who have suffered. I know its been hard over the past 5 years, I know you told everyone not to buy Dubai property since 2002 and sat there at work while your colleagues and juniors became millionaires then multimillionaires.
I know its good for you now that prices are descending and finally you don’t look foolish – for a moment in time – I know you hate me for saying there is opportunity and that I put forward an argument you can not rebuff so all you can do is point out spelling mistakes…
Im feel bad for you that the UAE will breeze though this down turn and you will go back to feeling inadequate and foolish as prices rebound and your rents increase.
I tried to impart some advise – it didn’t work – and im glad cause most of you need to leave dubai and go back to Wigan were everything makes sense. . . for you.
I know you will all report me. I know its forbidden to express an opinion against the general consensus. I know if people insult you here and your rude back they will take the time and effort in their small life’s to report you. I know i deserved to get banned but come on admit the paper bag comment was funny -mildly amusing at worst.
MY THOUGHTS ARE CORRECT – ITS NOT A WIND UP – BUY DUBAI AT HALF PRICE OR REGRET IT.
I know that this discussion is a support group for people with low self esteem who have suffered. I know its been hard over the past 5 years, I know you told everyone not to buy Dubai property since 2002 and sat there at work while your colleagues and juniors became millionaires then multimillionaires.
I know its good for you now that prices are descending and finally you don’t look foolish – for a moment in time – I know you hate me for saying there is opportunity and that I put forward an argument you can not rebuff so all you can do is point out spelling mistakes…
Im feel bad for you that the UAE will breeze though this down turn and you will go back to feeling inadequate and foolish as prices rebound and your rents increase.
I tried to impart some advise – it didn’t work – and im glad cause most of you need to leave dubai and go back to Wigan
were everything makes sense. . . for you.
Nov 27th 2008, 7:37 am
#25
Viva la revolucion..
Joined: Jul 2007
Location: Dubai / NY
Posts: 691
Re: The Dubai Property Collapse Continues...
So ever since I moved to Dubai - all I've been hearing is that "its a bubble... it'll crash... all's gonna be fooked" I believe, at that point people WERE talking about Dubai and Dubai only. So now that there's a global economic crises, the same people are like "told you so". My point is, they "told me so" about 6 years ago - and I could've done LOTS more with my investments than I did... for these 6 years... so silly of me to listen to all that crap. Secondly, they talked about the DUBAI market crashing etc. which really didnt seem to be happening.... and suddenly wall street gets fooked..and the entire world feels it.. Dubai, being part of this world, would obviously feel it as well.... Thats what I feel....
In any case, so there's a crises..deal with it... move on man.... ppl who want to invest here will STILL invest.. ppl who have jobs here..will STAY here, irrespective of how messed up they say Dubai and Dubai laws are..... Its highly annoying, people getting banned and cussed and worked up over something like this.. do what you will ppl....
Also, have a quick question.... So, since its all bad in DUBAI.. one should wrap up..and leave....? If so, where to? whats the happening place these days..that'll give returns like Dubai's been giving for quite some time? If one has cash, what does one do with it? Where does one invest it? If you're takin cash outta the UAE property market, what do you do with that cash? Put it in a bank??? keep it under the mattress??? Also, what currency should it be kept in?
SOOO many bright minds on here.. seriously, its absolutely awesome! Everyone trying to enforce THEIR thoughts and ideas on everyone else!!
In any case, so there's a crises..deal with it... move on man.... ppl who want to invest here will STILL invest.. ppl who have jobs here..will STAY here, irrespective of how messed up they say Dubai and Dubai laws are..... Its highly annoying, people getting banned and cussed and worked up over something like this.. do what you will ppl....
Also, have a quick question.... So, since its all bad in DUBAI.. one should wrap up..and leave....? If so, where to? whats the happening place these days..that'll give returns like Dubai's been giving for quite some time? If one has cash, what does one do with it? Where does one invest it? If you're takin cash outta the UAE property market, what do you do with that cash? Put it in a bank??? keep it under the mattress??? Also, what currency should it be kept in?
SOOO many bright minds on here.. seriously, its absolutely awesome! Everyone trying to enforce THEIR thoughts and ideas on everyone else!!
Nov 27th 2008, 7:39 am
#27
Viva la revolucion..
Joined: Jul 2007
Location: Dubai / NY
Posts: 691
Re: The Dubai Property Collapse Continues...
quick question - ppl being laid off in Dubai..specifically property market etc. so, that's Dubai's fault..... k cool
ppl getting laid off on wall street..... the united states' fault...
ppl getting laid off anywhere in the world... its that particular country's fault? or its govt???
Im not trying to sound like an ass... although, Im sure I must be sounding like one.. but I seriously dont know that much about all this..so clarification would be great...
ppl getting laid off on wall street..... the united states' fault...
ppl getting laid off anywhere in the world... its that particular country's fault? or its govt???
Im not trying to sound like an ass... although, Im sure I must be sounding like one.. but I seriously dont know that much about all this..so clarification would be great...
Nov 27th 2008, 7:42 am
#29
BE Forum Addict
Joined: Mar 2008
Posts: 1,238
Re: The Dubai Property Collapse Continues...
The collapse if it happens fully will effect everybody differently if you can afford your payments & you can ride the storm then you will be fine, people who cant afford the payments are the individuals driving down prices, banks such as hsbc have withdrawn all morgatges at JGE, this is not down to Dubai but the global issue, Dubai does have problems but where doesnt ?