Liquidity, especially a riding tide of it was the safety margin of safety for most investors. But liquidity is fickle and can evaporate away very rapidly, which is what has happened on a global scale.
You see, most investors do not do their homework or even know how to go about it. They don't really know why they make money but with lots of liquidity around what you need is just luck and guts to turn a profit. Far too many ride up and then down with the market. Serious and skillful investors spend lot of time and effort trying to discount such distracting noises. It takes a very long time to learn how to do this, and you will always have to learn as you go.
When the name of the game here in Dubai was to flip properties nobody cares about the laws governing property ownership. After all, they are not going to live in it. It is all so short term, the governing laws didn't matter. Only the certain prospect of a fatter bank account does.
Now that the tide of liquidity has gone out, I wonder if Dubai real estate laws governing foreign ownership are sufficiently attractive. The government here will not have a chance to think this through. They will be living a real life experiment and it is probably not going to be pretty.
Well why am I here? I had a chance to come here three years ago but turned it down. I am here for faith reasons which I am still trying to understand. Just going by the mind, all these doesn't make sense.
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