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By A Smith (anonymous) | Posted February 19, 2009 at 15:04:08
Ryan, I admit that Dubai has been in a bubble mode for a while, however, this just means that people who bought at the top will lose money and others will be able to pick up real estate on the cheap. Nothing more than a transfer of wealth from bad investors to good ones.
Furthermore, if you can honestly tell me that Hamilton wouldn't have loved to experience even 5% of the growth that Dubai has over the last two decades, then you are smoking some funky stuff.
Take a look at these pictures and then compare them with Hamilton's real estate development. Even a blind man could see the difference.
www.architecturelist.com/2008/03/05/351/
www.flickr.com/photos/danielcheong/sets/72157603917219822/
Most Hamiltonian's would love to have Dubai's problems (not talking about the lack of personal freedoms, just the crash in the real estate market).
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