Can I say I told you so?

Some time ago, I wrote a blog about the Dubai real estate market. In my blog, which was live on November 18th, I mentioned that Dubai was the next place to see a severe downturn in its market. Recently there has been an increase in articles discussing that this has actually occurred in Dubai. In particular, in the last three months some parts of Dubai have seen a 30% decrease in prices.

Granted, the crash was already occurring when I blogged about it, but this had been on my mind some time before I finally wrote about it. It certainly was not as big news as it is now.

Personally I believe this is true for any market. No market can sustain strong growth over a long period of time. What goes up simply must go down. The converse is not necessarily true. What goes down will not necessarily come back up.

I'm actually rather excited as I loved visiting Dubai and look forward to cheaper hotels when we go there again. This article is one of many discussing the rise in hotel vacancies there due to the large number of new hotels. When we went several years ago a 'normal' hotel was over $400 a night, though it compared favorably to a five star hotel in the US.

Unfortunately, though, I'm still not sure when things will get better.