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« Why is this blogosphere broken?Women and weight »

Dubai's bubble... Burst?

  • By: Qwaider

  • On:Thursday, November 13, 2008 12:12:37 AM
  • In:Thoughts
  • Viewed: (7992) times

    • Currently 4.5/5 Stars.
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    Rated 4.5/5 stars (180 votes cast) Thanks for your vote!

    There appears no way you can escape this recession. Except if you run a self sufficient tribe in the Amazon or perhaps own a hut in Tibet. But everywhere else, the losses are tallying.

    There's no escape, stocks are plummeting, commodities are losing, oil price is dropping, real-estate is in the gutter, precious metals are scrap and even foreign currencies are taking a pounding.

    Apparently, only the US treasury and dollars are appreciating. And not by that much.

    The economic boom that appears to resemble Dubai's ever rising skyline seem to have taken a recent turn south. Where many of the greatest companies like Emaar (currently building the tallest skyscraper in the world) have finished almost 80% down since the 52 week high back in January. While other stocks took a pounding, going down to 62.7%. That's almost two thirds of its value.

    That's not all, even real estate prices appear to have fallen as much as 19% in October alone from September. There're are indicators that this might only be the beginning

    I guess, it was good while it lasted, but there doesn't seem to be anything that lasts these days.

    The effects of this new bubble burst might have a lasting and devistating effects on neighboring markets and countries. The results might be hard to deal with. Mass layoffs will probably follow and ever tightning of credit and a lot more scrutiny on the way companies function. With a chance of more regulations that will in effect work to further derail this whole boom for years to come

    Read some more

    Survey Signals Dubai Housing Boom has ended (WSJ)
    HSBC report

    Other Memories Documented on November 13
    « Why is this blogosphere broken?Women and weight »

    Memories....

    • #1
    • Moey
    • Apple Mac Firefox Browser
    • Said
    • On: 11/13/2008 4:27:53 AM
    Oh, wow.
    • #2
    • KJ
    • Windows Chrome  Browser
    • Said
    • On: 11/13/2008 7:28:24 AM
    It is freaking people out. Even with the fall in prices, no one is willing to buy. They're renting at best, and this is an exceptional case too.

    Layoffs are through the roof. My company is releasing some 300 people by the end of the year.
    • #3
    • Marvin
    • Windows Internet Explorer
    • Said
    • On: 11/17/2008 11:16:50 PM
    • SpamScore=[5]
    I'm hanging onto my Tibetan rental huts. I know the market will come back.
    You too can have your Memories Documented

    Country:

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    « Why is this blogosphere broken?Women and weight »
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