Building next phase of Dubai real estate.

Once upon a time, in the fictional kingdom of assets, the prevailing doctrine was that the acquisition of financial and real estate assets were a form of savings - the ability to get higher "coupon clippings" for taking a higher amount of risk. And that over time, these "coupons" would overpower the dark forces of inflation such that net wealth would rise over time.

This was a fairly stable relationship that held from the end of the Second World War to the early 1980s. Around that time, as interest rates started to fall, the income distribution changed dramatically, as capital gains started to dominate wealth creation.

Today, as traditional asset prices in country after country start to exhibit declines, the question arises: Do we go back to the old way of thinking? And what happened...