What liquidity???? There is none. The small manufactures and companies in NA are already complaining of the lack of available funds/loans. The banks won't lend to each other!!!!!!! If they do it is at much higher rates and they are ALL gun shy about potential risk.
The money that was 'floating' around was built on risk and whan that risk finally materiallized the money disappeared - hence the current crisis/problems.
Anyone who thinks that Dubai will simply side step this is in la la land. The only questioon will be to what extent. Less foreigners will be investing money here--because there is none and those that have will not likley risk it in the bubble that has grown here. They're gun shy now.
As for the guys who have made money in the last several years = you should be happy for them!!!! However, have they made the money??? ie have they SOLD yet?? You have not made money (or lost it) until you sell. Till then it is all speculation.
The smart ones rarely buy at the low or sell at the high but make some money in between. Trying to guess the exact low or high is a mugs game.
The game has changed in Dubai. The risk now in holdig property is high. If you are holding onto it today or buying you may still see increases. The trick will be to sell while you can and while you can crystallize that profit.