So Dubai's gonna defualt
#1
Account Closed
Thread Starter
Joined: Oct 2008
Posts: 2,502
So Dubai's gonna defualt
Oops, excuse me, Dubai World, not the Government of Dubai, yep, right, got that all straightened out now.
So Dubai World is going to default now.
Taking odds on the following:
1. The expat flight actually happens. Beginning in January and by the end of the school year the expat population drops 25% or more. Rents drop dramatically, property prices drop dramatically, but the cost of living soars.
2. Minor job losses, minor rent decreases or no rent increases. Cost of living soars.
3. Employment actually increases slightly, rents increase slightly. Cost of living soars.
4. Boom times are back! Cost of living soars.
Place your bets, ladies and gentlemen and Commander.
So Dubai World is going to default now.
Taking odds on the following:
1. The expat flight actually happens. Beginning in January and by the end of the school year the expat population drops 25% or more. Rents drop dramatically, property prices drop dramatically, but the cost of living soars.
2. Minor job losses, minor rent decreases or no rent increases. Cost of living soars.
3. Employment actually increases slightly, rents increase slightly. Cost of living soars.
4. Boom times are back! Cost of living soars.
Place your bets, ladies and gentlemen and Commander.
#2
banned
Joined: Oct 2008
Posts: 7,611
Re: So Dubai's gonna defualt
Oops, excuse me, Dubai World, not the Government of Dubai, yep, right, got that all straightened out now.
So Dubai World is going to default now.
Taking odds on the following:
1. The expat flight actually happens. Beginning in January and by the end of the school year the expat population drops 25% or more. Rents drop dramatically, property prices drop dramatically, but the cost of living soars.
2. Minor job losses, minor rent decreases or no rent increases. Cost of living soars.
3. Employment actually increases slightly, rents increase slightly. Cost of living soars.
4. Boom times are back! Cost of living soars.
Place your bets, ladies and gentlemen and Commander.
So Dubai World is going to default now.
Taking odds on the following:
1. The expat flight actually happens. Beginning in January and by the end of the school year the expat population drops 25% or more. Rents drop dramatically, property prices drop dramatically, but the cost of living soars.
2. Minor job losses, minor rent decreases or no rent increases. Cost of living soars.
3. Employment actually increases slightly, rents increase slightly. Cost of living soars.
4. Boom times are back! Cost of living soars.
Place your bets, ladies and gentlemen and Commander.
#3
banned
Joined: Oct 2008
Posts: 7,611
Re: So Dubai's gonna defualt
Oops, excuse me, Dubai World, not the Government of Dubai, yep, right, got that all straightened out now.
So Dubai World is going to default now.
Taking odds on the following:
1. The expat flight actually happens. Beginning in January and by the end of the school year the expat population drops 25% or more. Rents drop dramatically, property prices drop dramatically, but the cost of living soars. Dont care, dont pay rent...cost of living fluctuations dont affect me too much
2. Minor job losses, minor rent decreases or no rent increases. Cost of living soars. Dont care, dont pay rent...cost of living fluctuations dont affect me too much and if i lost my job, it would be a blessing in disguise
3. Employment actually increases slightly, rents increase slightly. Cost of living soars. Dont care, dont pay rent...cost of living fluctuations dont affect me too much
4. Boom times are back! Cost of living soars. Dont care, dont pay rent...cost of living fluctuations dont affect me too much
Place your bets, ladies and gentlemen and Commander.
So Dubai World is going to default now.
Taking odds on the following:
1. The expat flight actually happens. Beginning in January and by the end of the school year the expat population drops 25% or more. Rents drop dramatically, property prices drop dramatically, but the cost of living soars. Dont care, dont pay rent...cost of living fluctuations dont affect me too much
2. Minor job losses, minor rent decreases or no rent increases. Cost of living soars. Dont care, dont pay rent...cost of living fluctuations dont affect me too much and if i lost my job, it would be a blessing in disguise
3. Employment actually increases slightly, rents increase slightly. Cost of living soars. Dont care, dont pay rent...cost of living fluctuations dont affect me too much
4. Boom times are back! Cost of living soars. Dont care, dont pay rent...cost of living fluctuations dont affect me too much
Place your bets, ladies and gentlemen and Commander.
#4
Is not impressed...
Joined: Aug 2008
Location: Dubai
Posts: 258
Re: So Dubai's gonna defualt
Worth noting, you also don't live in Dubai.
Who actually pays their own rent here? Anyone? (I'm prepared to be shocked by a flurry of responses in the affirmative)
Who actually pays their own rent here? Anyone? (I'm prepared to be shocked by a flurry of responses in the affirmative)
#6
Re: So Dubai's gonna defualt
Oops, excuse me, Dubai World, not the Government of Dubai, yep, right, got that all straightened out now.
So Dubai World is going to default now.
Taking odds on the following:
1. The expat flight actually happens. Beginning in January and by the end of the school year the expat population drops 25% or more. Rents drop dramatically, property prices drop dramatically, but the cost of living soars.
2. Minor job losses, minor rent decreases or no rent increases. Cost of living soars.
3. Employment actually increases slightly, rents increase slightly. Cost of living soars.
4. Boom times are back! Cost of living soars.
Place your bets, ladies and gentlemen and Commander.
So Dubai World is going to default now.
Taking odds on the following:
1. The expat flight actually happens. Beginning in January and by the end of the school year the expat population drops 25% or more. Rents drop dramatically, property prices drop dramatically, but the cost of living soars.
2. Minor job losses, minor rent decreases or no rent increases. Cost of living soars.
3. Employment actually increases slightly, rents increase slightly. Cost of living soars.
4. Boom times are back! Cost of living soars.
Place your bets, ladies and gentlemen and Commander.
#7
Re: So Dubai's gonna defualt
I do. We are both self-employed (& own a company here).
I think too many people forget that not everyone is here as an employee. I have many friends who own businesses here.
-
#10
Re: So Dubai's gonna defualt
Not self-employed, but still pay my own rent. No housing allowance.
(The salary I'm on isn't bad, though)
(The salary I'm on isn't bad, though)
#11
Re: So Dubai's gonna defualt
Oh, and I'd go for 2. It does sound as if there are going to be more leavers in the next few months than there were over the summer, though.
#12
Forum Regular
Joined: Aug 2009
Posts: 160
Re: So Dubai's gonna defualt
thats one of the reasons why rents have had to fall so much & LLs starting to accept more cheques/monthly payments... rent loans much harder to get from banks now and lots of the people who were getting rent paid have been made redundant. there was an article in the Gulf News about it earlier in the year.
#13
Re: So Dubai's gonna defualt
Oops, excuse me, Dubai World, not the Government of Dubai, yep, right, got that all straightened out now.
So Dubai World is going to default now.
Taking odds on the following:
1. The expat flight actually happens. Beginning in January and by the end of the school year the expat population drops 25% or more. Rents drop dramatically, property prices drop dramatically, but the cost of living soars.
2. Minor job losses, minor rent decreases or no rent increases. Cost of living soars.
3. Employment actually increases slightly, rents increase slightly. Cost of living soars.
4. Boom times are back! Cost of living soars.
Place your bets, ladies and gentlemen and Commander.
So Dubai World is going to default now.
Taking odds on the following:
1. The expat flight actually happens. Beginning in January and by the end of the school year the expat population drops 25% or more. Rents drop dramatically, property prices drop dramatically, but the cost of living soars.
2. Minor job losses, minor rent decreases or no rent increases. Cost of living soars.
3. Employment actually increases slightly, rents increase slightly. Cost of living soars.
4. Boom times are back! Cost of living soars.
Place your bets, ladies and gentlemen and Commander.
#14
Is not impressed...
Joined: Aug 2008
Location: Dubai
Posts: 258
Re: So Dubai's gonna defualt
I just got a call from Regent Intl School actually offering my son a place for the upcoming term.
We alreadydecided to go with AD instead, but this seemed curiously timed. They must know some students won't be coming back and fewer are headed for Dubai so now is the time to get aggressive and secure students.
Funny how things change.
We alreadydecided to go with AD instead, but this seemed curiously timed. They must know some students won't be coming back and fewer are headed for Dubai so now is the time to get aggressive and secure students.
Funny how things change.
#15
Account Closed
Thread Starter
Joined: Oct 2008
Posts: 2,502
Re: So Dubai's gonna defualt
I follow rental prices judiciously, and they've dropped compared to a week ago.
Not a whole lot, but there's movement in that direction.
The irony is, of course, that if rental prices will drop enough to make it worthwhile for me to move into my own flat in the Marina at the same rent I pay for my third of a shared villa in Umm Suqeim, I won't have the financial security to commit to a lease!
Well, good thing I prefer villa life and my flatmates and I have become good mates.
Not a whole lot, but there's movement in that direction.
The irony is, of course, that if rental prices will drop enough to make it worthwhile for me to move into my own flat in the Marina at the same rent I pay for my third of a shared villa in Umm Suqeim, I won't have the financial security to commit to a lease!
Well, good thing I prefer villa life and my flatmates and I have become good mates.
Last edited by Ethos83; Dec 1st 2009 at 9:54 am.