2008 Global Economic Crisis Effect on Architecture
The current global economic crisis has affected badly to all the sectors, from manufacturing industries to service providers. "Real Estate" is not left alone. Moreover it has been hit most badly. The "real estate" of Dubai has already declined 50% low and is expected to graph more-low with great pace. Prices have steadily been declining and there is no scope till 1-2 years that market will recover as stated in various news journals.
Investors are afraid to invest as they want to keep funds in liquidity state (cash/bank) and which is off course advisable in depression scenarios. But, this has all together affected architects, constructors, designers, employees and several other workers.
I would like to know how you people view the current ecnomic crisis effects....