Over,
Yep, I understand your POV. As to a correction, it could well happen and as always it depends on your timeline and individual circumstances. If you buy with a timeline which means the company covers the costs it is a no lose proposition. I flew with someone the other day who has made a choice to go to RAK and is buying a great property whilst coining it in. It meets his personal circumstances but might not meet many others.
Pilots from countries used to apartment living find it easier than those who want clapperboard walls, shingles on the roof and a ride on tractor for the ranch. If doom and gloom hits Dubai, I am pretty sure the rest of the world will not be immune, nor will the Provident Fund. Heck there might even be more terrorists in Londinistan than here!