I reckon that the only thing insulating the ME was the US economy and the high price of oil. If world demand reduces and oil prices fall, where do you think it will leave the ME? What other reason is there to buy overpriced property in DXB? Let's face it, if there wasn't any oil/gas in the ME , why would anybody go there? IMHO, I think commodity and oil prices will reduce to a sensible level ( where is anybodies' guess), and there will be a serious correction in property prices around the world generally.