Quote:
Originally Posted by stumbled
I seriously like ur optimism. You certainly have a crystal ball through which you see nothing but PROFIT. Well, my friend, from here the dollar can only go down, that is the reason why china with 255billion dollars surplus is buying assets in other countries and spending its dollars, similarly Warren Buffet is buying the Brazilian reals, the best performing currency, the way for the dollar is down, with Fed Looking to cut interest rates, Saudi also thinking of losing the dollar peg.
The next cut in rates by the fed will give the morgage payers in Dubai a respite, and give rise to a smaller boom, but that would be the ticket to sell, after that you are looking at $1,65=1 euro and $2.25=£1.
This is US being clever to be honest, its slowly wiping out its debt by devaluing its currency by 30-50 % in 5 years, but USA is clever why is UAE holding on to the dollar, its devaluing its currency, properties and giving rise to inflation. My best wishes to all those brave hearts out there.
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The USD is going to retrieve.
What goes down goes up again.
In a year time if the Euro remains at 1.50 to the dollar and the pound above 2.00 to the dollar the things will change.
My point is - take your time, wait for 2 years (maybe 3) and you will be awarded.
On the other hand, The local authorities need to make the market attractive until at least 50% of their building are sold out.
They have the money to back up the property business.
If people are not happy Dubai is over and will never pick up again.
In 2012 when most of the properties will be sold out they might start cashing up but
until that time nothing will happen.
For example in IC they haven’t sold half of the china cluster the whole Russia cluster and
most of Greece and France .
This is a game which doesn’t apply to any other country.
At the moment 70 % of Dubai Marina, JBR, Palm, World and other ready prestige developments are empty, Why?
Because they have the money to manipulate the market and they can keep them empty for another 5 years.
Discovery gardens most of the building are ready but nothing delivered.
IC - all the delays are because Nakheel trays to manipulate the market.
Ok Dubai is not the best place to invest but if you are clever you can still benefit.
At one stage this place will blow but when nobody knows.
My suggestion is 2012
Thanks
Georgi