[timmatoil]

That stuff is absolutely crazy! Those world islands look extremely cool, I wonder what they'll build on the little individual pieces of the land, if anything?

[Sixstrings]

$this->bbcode_second_pass_quote('', 'I') wonder what they'll build on the little individual pieces of the land, if anything?

[ReverseEngineer]

$this->bbcode_second_pass_quote('cbxer55', 'T')he emirate that used to spend it like Beckham

$this->bbcode_second_pass_quote('', 'T')he airport has become swamped with abandoned cars bought on credit as expats flee the country and leave their debts behind. Professionals from Europe, Australia and the US have been going home as work dries up.

[Homesteader]

So many cars are being abandoned at the airport in Dubai that signs have gone up asking that the keys be left in the ignition. Reports are that a 1000 or more cars are being abandoned per month.

[ohanian]

$this->bbcode_second_pass_quote('Homesteader', 'S')o many cars are being abandoned at the airport in Dubai that signs have gone up asking that the keys be left in the ignition. Reports are that a 1000 or more cars are being abandoned per month.

[Maddog78]

Wow, abandoning cars, pretty amazing turnaround for this place.
I was there about 3 yrs. ago when everything was full speed ahead so it's sobering to read about this development.

[misterno]

$this->bbcode_second_pass_quote('cbxer55', 'T')he emirate that used to spend it like Beckham

$this->bbcode_second_pass_quote('', 'T')he airport has become swamped with abandoned cars bought on credit as expats flee the country and leave their debts behind. Professionals from Europe, Australia and the US have been going home as work dries up.

[jamest]

$this->bbcode_second_pass_quote('misterno', '')$this->bbcode_second_pass_quote('cbxer55', 'T')he emirate that used to spend it like Beckham

$this->bbcode_second_pass_quote('', 'T')he airport has become swamped with abandoned cars bought on credit as expats flee the country and leave their debts behind. Professionals from Europe, Australia and the US have been going home as work dries up.

[misterno]

Howcome none of them was crook enough to sell the car and leave the country? I don't think banks in Dubai can find these people in India or Pakistan.

[POAlex]

I don't know how they're going to fill all those buildings.

Alex

[Sixstrings]

$this->bbcode_second_pass_quote('', 'I') don't know how they're going to fill all those buildings.

[eXpat]

Laid-Off Foreigners Flee as Dubai Spirals Down
$this->bbcode_second_pass_quote('', 'D')UBAI, United Arab Emirates — Sofia, a 34-year-old Frenchwoman, moved here a year ago to take a job in advertising, so confident about Dubai’s fast-growing economy that she bought an apartment for almost $300,000 with a 15-year mortgage.
Now, like many of the foreign workers who make up 90 percent of the population here, she has been laid off and faces the prospect of being forced to leave this Persian Gulf city — or worse.

“I’m really scared of what could happen, because I bought property here,” said Sofia, who asked that her last name be withheld because she is still hunting for a new job. “If I can’t pay it off, I was told I could end up in debtors’ prison.”
With Dubai’s economy in free fall, newspapers have reported that more than 3,000 cars sit abandoned in the parking lot at the Dubai Airport, left by fleeing, debt-ridden foreigners (who could in fact be imprisoned if they failed to pay their bills). Some are said to have maxed-out credit cards inside and notes of apology taped to the windshield.

The government says the real number is much lower. But the stories contain at least a grain of truth: jobless people here lose their work visas and then must leave the country within a month. That in turn reduces spending, creates housing vacancies and lowers real estate prices, in a downward spiral that has left parts of Dubai — once hailed as the economic superpower of the Middle East — looking like a ghost town.

[3aidlillahi]

Thanks for posting the good news about that Deathtrap. The sooner they are forced to deal with reality the better.

[Ferretlover]

$this->bbcode_second_pass_quote('From the article', '�')��If I can’t pay it off, I was told I could end up in debtors’ prison.”

[frankthetank]

If this has been posted, go ahead and delete it... Pretty crazy stuff.
$this->bbcode_second_pass_quote('', 'S')ofia, a 34-year-old Frenchwoman, moved here a year ago to take a job in advertising, so confident about Dubai’s fast-growing economy that she bought an apartment for almost $300,000 with a 15-year mortgage. An abandoned car in a parking garage in Dubai. One report said 3,000 cars were sitting abandoned at the Dubai Airport.

“I’m really scared of what could happen, because I bought property here,” said Sofia, who asked that her last name be withheld because she is still hunting for a new job. “If I can’t pay it off, I was told I could end up in debtors’ prison.” With Dubai’s economy in free fall, newspapers have reported that more than 3,000 cars sit abandoned in the parking lot at the Dubai Airport, left by fleeing, debt-ridden foreigners (who could in fact be imprisoned if they failed to pay their bills). Some are said to have maxed-out credit cards inside and notes of apology taped to the windshield.

[3aidlillahi]

It's been posted and the people have cheered!

[jdmartin]

That's pretty screwed up. Maybe we can have a wailing wall here in the US where people can drop off their credit card bills, unpaid, with a note attached

[Ache]

http://www.nytimes.com/2009/02/12/world ... dubai.html

$this->bbcode_second_pass_quote('', 'D')UBAI, United Arab Emirates — Sofia, a 34-year-old Frenchwoman, moved here a year ago to take a job in advertising, so confident about Dubai’s fast-growing economy that she bought an apartment for almost $300,000 with a 15-year mortgage.

Now, like many of the foreign workers who make up 90 percent of the population here, she has been laid off and faces the prospect of being forced to leave this Persian Gulf city — or worse.

“I’m really scared of what could happen, because I bought property here,” said Sofia, who asked that her last name be withheld because she is still hunting for a new job. “If I can’t pay it off, I was told I could end up in debtors’ prison.”

With Dubai’s economy in free fall, newspapers have reported that more than 3,000 cars sit abandoned in the parking lot at the Dubai Airport, left by fleeing, debt-ridden foreigners (who could in fact be imprisoned if they failed to pay their bills). Some are said to have maxed-out credit cards inside and notes of apology taped to the windshield.