28 May 2008

Mosul Citizens To Be Bestricken with Sub-Prime Mortgages

Now that the Iraqi Army offensive in Mosul, Operation Mother of Two Springs, has seen substantial success with over a thousand detained and Al-Qaeda on the run, the citizens are facing another problem: high housing prices. Azzaman English explains:

The sudden hike in property prices in the northern city of Mosul is seen as a sign that relative peace was finally returning to the restive city...Ahmad Azzam, a real state agent, described the surge in rents as “crazy”, claiming that one political faction offered to pay $100,000 a month for a spacious house in one of Mosul’s smart districts.

While this might lead to some levels of corruption and low-level intimidation, it is certainly heartening to hear that this type of problem is making the news. A few months ago, the only thing you heard from Mosul was which suicide bomber blew himself up or who got kidnapped. For the sake of the Iraqis in Mosul, let's hope the terrorists don't come back.

Hanging Out in Mosul (From AFP)