Friday, February 04, 2005

Expats priced out of homes demand low-cost dwellings - Gulf News

In a country that vaunts itself as a free market haven, you hear an awful lot of appeals for government intervention to fix stuff -- from ex pats and nationals. This is one of the themes I will be developing in The Emirates Economists, with a litany of examples.

There has been a tremendous increase in rents due to increasing demand fueled in turn by a growing economy. I would expect that prudent employers who wish to retain their best employees will increase salaries or housing allowances. Trust the Invisible Hand. It is your friend.

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