Credit Crunch Construction
Progress Halted on Worldwide Super-Structures
Dubai has been hit the hardest because they were the most aggressive with building superstructures, but the collapse of building projects is a worldwide phenomenon.
Implications - With the lack of liquidity in the market, expensive purchases have slowed to a halt. The lack of credit offers the opportunity for increased creativity to come into play when conceiving of a design or product. Consumers have not stopped purchasing, but rather, what they are purchasing has changed.