Saturday, January 17, 2009
3000 Abandoned Cars at Dubai Airport as Economy Turns DownAirport 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.
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