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morganist
Moderator

Registered: Sep 2008
Posts: 3404

08-08-12 11:47 AM

I had this published at ArabianBusiness.com.

http://morganisteconomics.blogspot....ial-centre.html

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fullblotter

Registered: Feb 2006
Posts: 181

08-09-12 01:00 AM

Quote from morganist:

I had this published at ArabianBusiness.com.

http://morganisteconomics.blogspot....ial-centre.html

dubai is in a much worse situation than any of the western cities. they are by far the most indebted and they still refuse to let most of their real estate supply hit the open market.

singapore is the new financial centre.

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peilthetraveler

Registered: Jun 2005
Posts: 7106

08-09-12 01:37 AM

Quote from fullblotter:

dubai is in a much worse situation than any of the western cities. they are by far the most indebted and they still refuse to let most of their real estate supply hit the open market.

singapore is the new financial centre.

Isn't Dubai the place where if you stop paying your mortgage, they put you in jail?

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fullblotter

Registered: Feb 2006
Posts: 181

08-09-12 02:15 AM

Quote from peilthetraveler:

Isn't Dubai the place where if you stop paying your mortgage, they put you in jail?

it is. they have debtors prisons. extremely ironic...

it's quite an intricate system too. if you lose your job, your bank account gets frozen I believe to keep you from fleeing the country...

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morganist
Moderator

Registered: Sep 2008
Posts: 3404

08-09-12 11:18 AM

It's not just me saying it and there is evidence to suggest it is already happening see below link.

http://www.emirates247.com/business...-03-21-1.449714

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fullblotter

Registered: Feb 2006
Posts: 181

08-09-12 11:51 PM

Quote from morganist:

It's not just me saying it and there is evidence to suggest it is already happening see below link.

http://www.emirates247.com/business...-03-21-1.449714

it's listed at #29...

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