From Yahoo! Finance: Research firm: Dubai home prices drop 41 pct in 1Q.
Home prices in the once red-hot Middle East boomtown of Dubai plunged 41 percent in the first three months of 2009 as the global economic slowdown raised concerns about job security and dried up financing, according to figures released Tuesday that suggest nearly two years of gains have evaporated.
That's just one quarter folks! - three months - not a year, not a few years, just three months.
Of course, the EE had explained the concept right here.
Dubai is toasted! Prices will fall a lot further.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment