I've been out to dubai, and well, i think that falling property prices and abandoned cars are just two minor problems the emirate will face within the next two years. Infrastructure is a complete disaster, the path to work had been changing on a daily basis due to road closures, but improvement was sorely lacking. Property was sold without sufficient maintenance/HOA fees. I think the developers presently pay for the maintenance of the vast parkways and medians and numerous guards within their developments. Obviously, not a sustainable business model, so good luck extracting those fees out of the underwater residents. There is a huge population of second class citizens from indo, paki, and hk and many of them have been laid off and haven't been paid for work completed. Their visas are expiring but how are they going to get out of country without the cash? Either they jail all these violators and deport them on the slow boat, or you're stuck with a population of disgruntled and angry men with nothing to do. Knowing UAE beuracracy and Emiratees in general, option 1 is too complex for them to accomplish in a limited amount of time without incurring a lot of human rights violations (but Dubai is one of the least free countries in the world according to HRW).
Ultimately, Dubai is in the middle of the f-ing desert. Sure, it's on the coast, but a clear, dust free summer or fall day in dubai is a rare occurance. From a U.S. citizen perspective, there's absolutely no reason to go there except for business. Travel half way around the world to gawk at a big building and ski indoors? I think you should pass because there's nothing there that we don't already have in every major U.S. city that's of superior quality. Leave Dubai to the repressed Saudis and Iranians.