When you hear of Dubai, you think of a luxurious tax-free wealth lifestyle only few could afford. Of course for auto enthusiasts, Dubai is the land where one can spot some of the most expensive and exclusive automobiles of the world. However, faced with debt and shrinking credit, those living the high-life are abandoning Dubai along with their luxurious homes and expensive cars.

According to TimesOnline, police have located more than 3,000 abandoned cars near Dubai’s international airport in recent months. Most of the cars are said to be four-wheel-drive SUVs, sedans and “a few” Mercedes-Benz models. Those running away from their debut left their keys in the ignition while some even left their maxed-out credit cards in the glove box. A few even left an apology notes on the windscreen.

“Every day we find more and more cars,” said a senior airport security official. “Christmas was the worst – we found more than two dozen on a single day.” The security official said that a lot of people were living a very luxurious lifestyle that they couldn’t afford and were unable to pay their mortgages without available credit. So why just abandon your amazing house and car and run away? Well, under Dubai law, punishment for defaulting on debt is punishable with jail. Those who leave everything behind are known as “skips.”
Source: TimesOnline

 

WOW!!! Thats a shocking report =(

 

***standing by to see who calls repost on the boss***

 

**whispers "repost"**

 

I think I Read this last week. If there is a massive public auction, it'd be fun to take advantage of it!

 

This is very sad indeed. Dubai is in serious financial trouble. Construction has almost halted. People have fled. Rising unemployment etc..
Abu dhabi has bought a big share of dubai as result of the fall in real estate prices.

 

Dubai collapsing?

Yeah, nobody saw this coming.....

 

That is crazy. Maybe investing in chrome lambos and bugattis was a bad idea.