BurpusMe

I'm still in Dubai - and still optimistic about UAE's future, and Dubai's role in it (though evolving, it may be).

UAE has some fantastic infrastructure, and a strategic location. Once the world economy starts moving again - things will pick up. However it's definitely not going to be 'easy money' in the in-between years.

Plan for the worst, but hope for the best - that's all we can do in the meantime.

Jeeper

That's all YOU can do....I can do whatever I want. Cash in bank...don't need the job...don't have debts.

It's a bit ner ner na ner ner but all the buyers were happy to ner ner na ner ner me for the past 6 years.

Enjoy your hoping.

Norm_uk

You might want to be careful which bank you keep your cash in...if things really do go from bad to worse they will probably stop people taking money out the country and limit transcations like they did in Argentina when things went pete tong.

N.

Blue Cat

surely no one keeps large amounts of cash in banks here though

Jeeper

Aye - been through that on another thread.....It ain't in Dubai any longer.

BurpusMe

What an odd response.

Are you calling me a property investor? Them's fightin' words!

Jeeper

It was directed at property investors (the likes of Diablo and others) who mocked the non-investors.

The only clever ones were the ones who SOLD in '07, when everyone else was buying and telling the remainder they were fools for not buying too.

Of course - we won't hear from the '07 sellers as they'll be sitting pretty in some far off land - not giving a t.oss about this place no longer.


(the ones who sold in early 08 were the lucky ones...not so much the clever ones IMHO).

Meow

Actually I sold a property in early 2007. I'm still here though.

-

Blue Cat

the ones that are really bricking it at the ones who bought last quarter 2008.

shiva

PMSL, beaten out by latvia and estonia

"It was no secret that of all the world's property bubbles, one of the very bubbliest had been in Dubai - or that the bubble had been pricked a year ago.

Even the International Monetary Fund (in its latest report on the prospects for the global economy) noticed that the United Arab Emirates had suffered the third-worst fall in house prices during the first three months of this year of any country (a fall of nudging 40%; only Latvia and Estonia suffered worse drops)."

http://www.bbc.co.uk/blogs/thereport...le_crisis.html