The only reason it … The only reason it catches anyone by surprise is that it takes so long for the hammer to fall. It should have (Dubai, and US for that matter) dropped a while ago, and since it takes so long for the bubble to burst people eventually think it will just keep going – even if it is counterintuitive
With all due … With all due respect, the Dubai ‘crisis’ was being talked about almost a year ago! Furthermore, the US has had a massive glut of commercial real estate for a very long time.
None of this is new news and it seems to me that by time these kind of stories get to the mainstream press, it has already been known for almost a year.
Nobody should be suprised by any of this. The writing was on the wall a long time ago. People need to do their own research to stay ahead of the curve.
RXR Realty CEO Scott Rechler on the parallels between commercial real estate in Dubai and the United States.
November 29th, 2009 at 4:58 am
The only reason it …
The only reason it catches anyone by surprise is that it takes so long for the hammer to fall. It should have (Dubai, and US for that matter) dropped a while ago, and since it takes so long for the bubble to burst people eventually think it will just keep going – even if it is counterintuitive
November 29th, 2009 at 4:58 am
With all due …
With all due respect, the Dubai ‘crisis’ was being talked about almost a year ago! Furthermore, the US has had a massive glut of commercial real estate for a very long time.
None of this is new news and it seems to me that by time these kind of stories get to the mainstream press, it has already been known for almost a year.
Nobody should be suprised by any of this. The writing was on the wall a long time ago. People need to do their own research to stay ahead of the curve.
November 29th, 2009 at 4:58 am
This is exactly …
This is exactly right! Thanks for the truth. I deal with so many people in commercial real estate who refuse to beleive the truth.