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Residents surprised as lines of credit open again

Discussion in 'Dubai property' started by georgihh, Mar 6, 2009.

  1. georgihh

    georgihh New Member

    Banks are supplying cash again, six months after they stopped.
    Time to buy as the prices will be going up again
     
  2. naxal

    naxal New Member

    By which source can you verify this information ... because .... I was recently declined by Samba Bank in Dubai for a credit card .. the reason only being the credit crunch .
    The bank employee said confidently these tough times are to last for a long time ....... I'm sure there are many more similar tales from others .
    :cool:
     
  3. georgihh

    georgihh New Member

    Gulfnews: Residents surprised as lines of credit open again

    I also have received couple of phone calls.
    Life will start again, temporally or permanent prices will start going up again
     
  4. desert dream

    desert dream New Member

    This is a flash in the pan..no serious lending will happen for a while..
    and property prices going up again...dream on my friend..
    ppl have been bruised, battered, jobless, and money has left the country..
    buying a house is the last thing on anybody's mind
     
  5. mpat

    mpat New Member

    yeah that s true , I got a call from mashreq ( !!!) that they r giving me 0% interest loan . . . .
     
  6. Wannaberich

    Wannaberich New Member

    I have read posts on another forum about banks lending money.One guy said everyone at his workplace last week had notices put on their cars from a bank offering loans etc.
     
  7. badrah

    badrah New Member

    Guys, banks are lending but for a limited segments of customers, Yes there is lending but it's very cautious and only for a certain segments who are not much affected with the current downturn, However Banks cant survive forever without lending, currently banks are in the phase of raising fund for fear of liquidity shortage as they provide 7.5% on average for deposited, once the liability portfolio of banks balance the existing asset profile, then banks will defiantly start lending again and heaveaily, Just one bank will announce re lending and you will find the rest following like sheep as no bank want to lose market share.

    By the way i'm a 10 year solid banker.
     
  8. Brendan R

    Brendan R New Member

    credit is the problem that us into this situation in the first place. Too much leverage relying on ever increasing unsustainable consumption. Let's face it, we're not going back.

    The future belongs to cash buyers.
     
  9. Sean@Phuket

    Sean@Phuket New Member

    Yes! And Phuket is full of them ... Come and take a look ...
     
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