I think places like Dubai are exceptions to the rule.
I think the government is very keen for investment and I suspect they use oil money to keep a floor under asset prices.
The last thing they want to see is investors getting burnt.
Apparently the money that has been spent in places like Dubai would make your head spin.
My parents have been and said it is unbelievable.
Dubai could be a great place to invest if oil stays at these elevated levels.
But all bets would be off if oil drops back towards $50 or $60.
Spain had a similar boom in property and look what has happened to them.
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