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Posted by geothermaljones on January 24, 2009, 11:38 am
Saturday, January 17, 2009
3000 Abandoned Cars at Dubai Airport as Economy Turns Down
Airport police in Dubai have found some 3,000 abandoned automobiles during
the past 4 months, as Indian and other South Asians in the real estate
industry lost their jobs and fled the country. They appear to have suddenly
found themselves unable to afford their monthly payments on the car loan
("equated monthly installment") and knew the car would be repossessed
anyway. A lot of the former owners appear to have been fleeing in such panic
because they were deeply in debt at that time they lost their positions.
http://www.juancole.com/2009/01/3000-abandoned-cars-at-dubai-airport-as.html
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