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Property Drop "another" 20% In Dubai


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http://www.bloomberg.com/news/2010-12-14/dubai-property-prices-may-continue-to-fall-for-two-years-as-supply-grows.html

Dubai property prices may drop for the next two years, extending a decline in the Persian Gulf sheikhdom that’s already cut values by more than 60 percent since the 2008 peak.
Residential values may fall as much as 20 percent more by the end of 2012

Just a matter of time for us.

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Just a matter of time for us.

I hope you are right. We need to shake some sense into our population thought for them to understand that housing isn't a one way bet. This is proving very hard to achieve when 90% of the nation worship at the temple of HPI and TPTB are doing everything to keep the plates spinning. One thing is for sure, when it does finally blow it isn't going to be pretty.

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