US Housing and Financial Market can learn and benefit from Dubai

U.S Housing and Financial market is in difficult situation right now. The collapse of major financial institutions, foreclosures, home loans scarcity, so on. The housing market is in a worst shape due to major market collapse.

U.S housing and financial market can learn a thing or two from Dubai which has become a pinnacle in housing and finance in recent years. Their success is huge. You can figure the success in Dubai for the fact that Dubai is opening another terminal on its airport along with the construction of the world's biggest airport in Jabel Ali which is going to be functional in 2009.

You might also know that Dubai is a booming housing industry. It has become one of the major financial hubs in the world and its housing market has reached new heights

What makes Dubai so successful? It's housing market so attractive and its financial security best in the world?

Dubai attracted people from politically unstable and developing countries like Pakistan, India, Sri Lanka, and other developing nations. It gave permanent residencies to people from South Asia on the purchase of a property. Therefore, loads upon loads of money from developing and politically unstable countries started flowing into Dubai. People started purchasing properties and it made Dubai one of the most culturally diverse cities in the world. New Financial institutions, construction industries started doing business in U.A.E.

One of the U.A.E states, Ajman is 60% owned by Pakistani investors who sold their businesses in Pakistan and started businesses in Dubai due to bad political scenario and terrorism.

Dubai visa process only takes 3 days to grant permanent visas to foreigners who buy properties in Dubai or in any state in U.A.E. The person goes through a medical test and background check before they can live permanently in United Arab Emirates.

Selling private property strategy gave Dubai its grandeur and money started flowing in. If U.S government can do the same, I am sure housing and financial market will become stable and U.S will be able to maintain its financial power in the world.

As done in Canada and Malaysia, if U.S can grant green cards to people buying property in U.S, the housing market will be able to gain momentum and the prices will become stable. It is a simple rule of demand and supply. The U.S property demand is in South Asia, Bangladesh and other developing countries. U.S can provide them an opportunity to buy property in U.S. In return they will be able to bring all the money they can from their homelands and this way U.S housing market will be able to regain its past success record.

If the current USDOJ ( New Immigration Dept) brings the new law giving green cards to property holders in U.S, I am sure a lot of people will be willing to buy second homes in U.S. A lot of money can start flowing and housing market will be able to stand on its own feet again.

Every year U.S grants green cards through lottery system. After careful examination, they select a few people who might not be able to bring much money to U.S. If U.S starts the Property based Green card program, I am sure hundreds upon thousands of people will be willing to invest in the housing market, thus, bringing money and finances in U.S.

• tags:
• USHousing
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• FinancialMarket
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• DubaiHousing
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• Dubai
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• DubaiMarket

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