Thursday 27 March 2014

No Dubai property market bubble despite price rises, says investment guru Marc Faber | The National

No Dubai property market bubble despite price rises, says investment guru Marc Faber | The National:



"Marc Faber, the famed investor known for his often gloomy opinions on markets, has warned of asset bubbles in the US and China but does not see one yet in Dubai’s property market.



Mr Faber, the author of the Gloom, Boom & Doom Report newsletter, said that after their huge bull run since 2009, US stocks would enter a bear market, dragging prices down by 20 or 30 per cent.



In China, a huge build-up in consumer credit since the government unveiled an economic stimulus plan in 2008 would burst sooner or later, he said.



But Dubai’s property market was at a less critical phase, Mr Faber said on the sidelines of the Middle East Investment Summit in Dubai on Wednesday."



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