CBS News on the Dubai property crash

Another of the many ‘bubble has popped’ stories about Dubai. But you have to wonder if those buying today are getting a bargain? Oil prices have crashed in the past and always gone even higher again. Dubai is the hub city of the oil rich Middle East and real estate speculation is a cyclical business. Yet perhaps the best bargains are still to come as the global economic recovery is not really in sight. Market timing is always tough, and the high oil prices of last summer vanished overnight, leaving Dubai real estate in crisis.