Current Financial Situation and Its Impact on Projects in the Region

The US sub-prime crisis has led to plunging property prices, a slowdown in the US economy and billions in losses by banks. In brief, the sub-prime crisis was initiated when banks moved to a new model whereby rather than banks lending mortgages through deposits received from their customers, banks began to sell on mortgages to the bond markets. This made additional borrowing much easier, but also created a platform whereby banks no longer had the incentive to carefully check the mortgages they were issuing. As a result, a wave of house repossessions has begun, which has had a dramatic impact on the US housing boom of the last few years. House prices in the US have been and are continuing to fall, and millions of unsold homes are forcing builders to lower prices in order to sell properties.

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Dubai Recession – Insights and Benefits

Dubai for many years has defied gravity and prospered as a result of a simple “build it and it will be utilised” strategy. However, it appears as though the current global economic recession and financial crisis has finally filtered through to Dubai. Over the past few weeks, a great number of discussions have centred on a number of key questions; what are the signs, how deep and long will the recession last and what will the outcomes be?

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Welcome to My Blog

I have spent all of my life since I was born in Zimbabwe, having the pleasure of travelling around the world, meeting people, exchanging views, enjoying conversations and learning from so many people. It’s now time to “get with the times” and go online where I can travel virtually around the world, meet more people and enjoy even more conversations and continue learning !

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