If there was a property crash in Dubai..
Jan 10th 2007, 9:27 am
#16
Up in the air
Thread Starter
Joined: Oct 2004
Location: I'm global baby!!!!!!
Posts: 7,263
Re: If there was a property crash in Dubai..
Don't know about Barclays, but HSBC is related to the UK arm in name only, and it doesn't seem to be any better than any other local bank, and it's also much more limited in the range of properties it will lend on than a lot of them.
That's one of the other things that makes me suspicious of local mortgages; the fact that the developers do sweetheart deals with lenders to prevent them lending on other developers' properties. When you can go to any lender in Dubai to get a mortgage on any property, then we might be interested. But probably not
That's one of the other things that makes me suspicious of local mortgages; the fact that the developers do sweetheart deals with lenders to prevent them lending on other developers' properties. When you can go to any lender in Dubai to get a mortgage on any property, then we might be interested. But probably not
however, it would only be if it was ridiculously cheap, and if at worst, i could write it off if need be.
Jan 10th 2007, 10:52 am
#18
Excess Baggage
Joined: Jul 2006
Location: UK
Posts: 5,479
Re: If there was a property crash in Dubai..
Then I'll design the Burj-al-LandCruiser, with flashing lights and blacked-out windows, naturally.
Jan 10th 2007, 11:13 am
#19
Big Member
Joined: Jul 2005
Posts: 3,889
Re: If there was a property crash in Dubai..
Is January 10th in Islamic calender the equivalent of April 1st?
Jan 10th 2007, 11:32 am
#20
BE Forum Addict
Joined: Apr 2005
Location: Melbourne
Posts: 4,553
Re: If there was a property crash in Dubai..
http://www.7days.ae/2007/01/10/sharj...kyscraper.html
Jan 10th 2007, 11:58 am
#24
Lost in BE Cyberspace
Joined: Feb 2005
Posts: 6,596
Re: If there was a property crash in Dubai..
Yeah, i know what you mean, and once every 28 days...
In the words of the song...
(everyone sing along in their best Australian accent)
I should be so lucky, lucky, lucky, lucky.....
In the words of the song...
(everyone sing along in their best Australian accent)
I should be so lucky, lucky, lucky, lucky.....
Jan 10th 2007, 12:50 pm
#25
**** it we'll do it live
Joined: Oct 2004
Location: Dubai
Posts: 7,892
Re: If there was a property crash in Dubai..
Its no longer if.....the correcton is already happening.
The question is when will the panic selling start that will precipitate the big crash.
The stock markets in the GCC were hopelessly overvalued and they corrected then crashed, its the same dumb punters who own all the property so once the word gets out it wont take long for an actual crash to begin.
The problem is a huge number of so called investors have ignored the fact that what goes up can also come down.
Frankly im all for spreading the word that the crash has begun and that people should sell now before its too late. this place exists on rumour and gossip, so if we can precipitate a crash then in six months time we can all buy a house at a sensible price with a gift of a mortgage.
remember....just tell eveyone you know/meet or have any interaction with that the impossible has happened and that the sky is falling in.
cheap houses all round
The question is when will the panic selling start that will precipitate the big crash.
The stock markets in the GCC were hopelessly overvalued and they corrected then crashed, its the same dumb punters who own all the property so once the word gets out it wont take long for an actual crash to begin.
The problem is a huge number of so called investors have ignored the fact that what goes up can also come down.
Frankly im all for spreading the word that the crash has begun and that people should sell now before its too late. this place exists on rumour and gossip, so if we can precipitate a crash then in six months time we can all buy a house at a sensible price with a gift of a mortgage.
remember....just tell eveyone you know/meet or have any interaction with that the impossible has happened and that the sky is falling in.
cheap houses all round
Jan 10th 2007, 1:32 pm
#26
Up in the air
Thread Starter
Joined: Oct 2004
Location: I'm global baby!!!!!!
Posts: 7,263
Re: If there was a property crash in Dubai..
Its no longer if.....the correcton is already happening.
The question is when will the panic selling start that will precipitate the big crash.
The stock markets in the GCC were hopelessly overvalued and they corrected then crashed, its the same dumb punters who own all the property so once the word gets out it wont take long for an actual crash to begin.
The problem is a huge number of so called investors have ignored the fact that what goes up can also come down.
Frankly im all for spreading the word that the crash has begun and that people should sell now before its too late. this place exists on rumour and gossip, so if we can precipitate a crash then in six months time we can all buy a house at a sensible price with a gift of a mortgage.
remember....just tell eveyone you know/meet or have any interaction with that the impossible has happened and that the sky is falling in.
cheap houses all round
The question is when will the panic selling start that will precipitate the big crash.
The stock markets in the GCC were hopelessly overvalued and they corrected then crashed, its the same dumb punters who own all the property so once the word gets out it wont take long for an actual crash to begin.
The problem is a huge number of so called investors have ignored the fact that what goes up can also come down.
Frankly im all for spreading the word that the crash has begun and that people should sell now before its too late. this place exists on rumour and gossip, so if we can precipitate a crash then in six months time we can all buy a house at a sensible price with a gift of a mortgage.
remember....just tell eveyone you know/meet or have any interaction with that the impossible has happened and that the sky is falling in.
cheap houses all round
Hope you had a great holiday, ill give you a call in a mo.
rgds
JD
Jan 10th 2007, 2:48 pm
#27
Soupy twist
Joined: Dec 2004
Posts: 2,271
Re: If there was a property crash in Dubai..
Just today I was talking to intelligent people who've bought places here, who simply refused to countenance the idea that property prices in Dubai could ever fall...
Jan 10th 2007, 3:31 pm
#28
Up in the air
Thread Starter
Joined: Oct 2004
Location: I'm global baby!!!!!!
Posts: 7,263
Re: If there was a property crash in Dubai..
Jeez....They cover supply and demand basics in secondary school
Jan 10th 2007, 4:42 pm
#29
Trust Your Instincts.....
Joined: Oct 2004
Location: Dubai
Posts: 1,404
Re: If there was a property crash in Dubai..
I wish we had bought when we first got here we have a pretty crap housing allowance but it would have covered the mortgage of a decent size villa or apartment but now it would even cover a 2 bed in the springs we definatly missed the boat
... although in defence of those that have bought most of them only did because their housing allowence covers the mortgage so really they have nothing to lose so why not buy...........
... although in defence of those that have bought most of them only did because their housing allowence covers the mortgage so really they have nothing to lose so why not buy...........
Jan 10th 2007, 5:00 pm
#30
Up in the air
Thread Starter
Joined: Oct 2004
Location: I'm global baby!!!!!!
Posts: 7,263
Re: If there was a property crash in Dubai..
I wish we had bought when we first got here we have a pretty crap housing allowance but it would have covered the mortgage of a decent size villa or apartment but now it would even cover a 2 bed in the springs we definatly missed the boat ... although in defence of those that have bought most of them only did because their housing allowence covers the mortgage so really they have nothing to lose so why not buy...........
... although in defence of those that have bought most of them only did because their housing allowence covers the mortgage so really they have nothing to lose so why not buy...........Lets all propagate a rumour that the massive correction has begun.!
Once it's all calmed down ill invite you all to a house-warming party at my villa on the palm
