Dubai Property through the "rear view mirror" (Re-post)

With every piece of news telling a good or not so good story about the boom and burst of Abu Dhabi and Dubai property markets, each one is as nearly absolute as the “black swan” phenomenae. And with each one as convincingly uncertain as the next one, one thing is for certain: we are uncertain about the future of UAE real estate. Or perharps this is described best by what Emmanual Kant once wrote: that “we are unsure about being sure”.

Market consultants are forced into a seductive “rear view mirror” analysis of what’s happening, that is, writing descriptive tales of events only after the fact of their taking place. The stories are all as less predictive as the confluence of many opinions of other experts that will follow to typically tell the same story.

Can one really predict where Dubai property or Abu Dhabi property prices will be tomorrow or the next quarter or another two quarters from now? Much like predicting the weather forecast, none can tell. But, its all more entertaining to be captivated with the latest happenings of Dubai real estate, the obvious and the non-linear, unpredictable.