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Miranda's picture
5 years 9 months ago
Miranda - Well said, Elie. That's what has driven this bubble - unbridled greed. What we get charged to live in crummy apartments that need maintenance are not justifiable at all. All I am seeing in Hamra and on the Corniche are rows and rows of empty buildings. To me, this indicates an impending crash. Just as there was panic-buying at the start of this bubble, so there will also be panic-selling that brings prices back down to reasonable levels. Had there been regulation and property tax to keep the real estate profiteers in check, this would have happened much sooner. Hang in there; the crash is coming.