We've all seen the shows- the tallest building, fanciest bathroom, most man made islands and peninsulas- great examples of how crazy the real estate and hotel market are in Dubai. Now that major investors are asking for deferments on the $60 billion they owe, stock markets around the world have been shaky. A major investor in Portland doing something similar might affect local companies, and maybe one large Wall Street firm, but not have nearly the affect that companies in a tiny Middle East city/state have. With the commercial real estate crisis just starting to break, more international issues will have an effect on the stock market, as well as consumer confidence and banks ability to make residential mortgage loans.
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