Middle East

November 17, 2011

Kabul's unlikely housing bubble seems ready to burst

The war in his homeland was a boom time for Sayed Aman Abed. The Kabul real estate broker made a small fortune over the past several years as billions of dollars in foreign aid and reconstruction contracts flooded into Afghanistan, creating a robust market for homebuyers and renters in the capital. Abed, a slight, boyish 25-year-old, did well enough to pick up the entire tab for his wedding last year, which cost $27,000, a princely sum in Afghanistan.

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