I am slowly coming to the conclusion that the governments and news media think all potential readers are morons. According to this ridiculous press release disguised as journalism, Emirates Business says:
More on Dubai Property Prices Rise Thirty Percent!!!!!!!!!!!!!
Whatever happened to getting a loan to buy an investment property with? They went out of the window with the world’s financial health when Lehman brothers bit the dust, that is what. The continuing devaluation of real estate around the world is continuing to put pressure on the loan markets and the credit crunch is still affecting property investment markets. The banks are well aware of the likely losses in the commercial property sector that are – as we speak – being announced. So, they are hoarding their money for the time when they must announce more losses and write off more outstanding debts.
