The Property Insurance Blog

All over the globe, properties were being developed at so fast a speed cities sprung up in a year or so. Shanghai, Dubai, and elsewhere everybody wanted to build big and fast with no expenses spared. Then oil prices dipped and the economic recession in the US and UK complicates matters worse. Once hailed as wonders of construction become ghost towns as developers reel from the flames of economic slowdown.
Shutting down their doors indefinitely waiting for conditions to get better to resume work. Whole cities in China lose their main source of income overnight as casinos shut down and construction of new ones are halted sending hundreds of thousands out on the streets without anything to go back to back home often risking all just to migrate to another town or city for promise of a decent job.

This entry was posted on Monday, December 15th, 2008 at 12:36 pm and is filed under General Topics, Related, Selling houses. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.