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Old 10-16-2007, 11:31 AM
 
Location: Grand Rapids Metro
8,885 posts, read 18,578,463 times
Reputation: 3902

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Introducing, the Dubai Bubble:

CBS News Video - Top Stories and Video News Clips at CBSNews.com (http://www.cbsnews.com/sections/i_video/main500251.shtml?id=3366044n - broken link)

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Old 10-16-2007, 12:13 PM
 
Location: Sitting on a bar stool. Guinness in hand.
4,428 posts, read 6,080,369 times
Reputation: 1716
Default A short term investor.

Can you say irrational exuberance.

If my history is right wasn't Lebanon the Paris of the middle east at one time. Now it a war torn mess. I mention this history because Dubai is so close to Iran and Iraq a all there problems. Plus who is to say if some other middle eastern country won't get jealous of Dubai and start making trouble for the country. Sorry. But if I was to put my money in for the long run I wouldn't be in Dubai. The whole middle east in my mind is still too unstable to trust for the long term investments. But if your a short term investor.........maybe.

Also let see if we see alot of new investment into Dubai from the Chinese and all there new found wealth. Thing should get intersting if they do start investing there. I'd like to see there ROI in 10-15 years if they do.
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Old 10-16-2007, 12:28 PM
 
Location: Grand Rapids Metro
8,885 posts, read 18,578,463 times
Reputation: 3902
Quote:
Originally Posted by baystater View Post
Can you say irrational exuberance.

If my history is right wasn't Lebanon the Paris of the middle east at one time. Now it a war torn mess. I mention this history because Dubai is so close to Iran and Iraq a all there problems. Plus who is to say if some other middle eastern country won't get jealous of Dubai and start making trouble for the country. Sorry. But if I was to put my money in for the long run I wouldn't be in Dubai. The whole middle east in my mind is still too unstable to trust for the long term investments. But if your a short term investor.........maybe.

Also let see if we see alot of new investment into Dubai from the Chinese and all there new found wealth. Thing should get intersting if they do start investing there. I'd like to see there ROI in 10-15 years if they do.
Did you watch the part where the Palm islands sold out 25,000 homes in a matter of day (or hours, can't remember now). They were then walking through the neighborhoods a month after Grand Opening and it looked like a ghost town. Hmmm, sounds like Miami.

The funny thing is is that the average UAE resident can't afford anything in the new "Dubai", and like you said baystater, that economic disparity leads to societal problems and strife.

It's also interesting that the Sheikh layed out his whole vision in January 2000, 9 months prior to 9/11, as if he knew there'd be an opportunity to vault Dubai into a "New York" alternative.

But that's another topic unto itself....
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Old 10-16-2007, 02:10 PM
 
Location: NJ
2,212 posts, read 6,695,656 times
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I think you should change the title to: "We aint seen nothin' YET!"

RE Beirut: Still actually pretty nice if a little bullety at times. They still have nightclubs, restaurants, high end stores and cafe culture.
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