Dubai Chronicle 17: Where are the Keys?
The airport parking lot is more crowded than ever these days. Seems expats looking for a quick way out leave their cars, with keys inside, at the airport parking lots.
They leave the keys in their houses as well.
It's like this. If somebody wants to purchase a house or car, then he has to write three years worth of postdated checks for the mortgage/note.
If the checks bounce because you don't have cash, you get thrown into prison.
Hey, even though this is Dubai, the prisons are still Middle Eastern style. Yanno.
Most of the prisoners are expats who have lost jobs and can't pay their mortgages.
These people are good reasons why anyone who loses their job in Dubai packs their suitcases and goes on vacation. Yeah! That's it. Vacation.
But, nobody is really saying that Dubai is in a recession.
Banks aren't giving loans anymore. You have to buy your houses in cash up front. Who has that kind of money? Well, aside from the Russian mafia. (The Russian mafia was referenced in an 'Oldie but Goodie' chronicle from last year.)
Dubai is just about broke.
But Abu Dhabi isn't.
That's all I know about cars being left at the airport.
As always, I'm a fiction writer, so I take gossip and second-hand news very seriously.
Have a great day.