The latest report from consultancy Jones Lang LaSalle about the Dubai property market is predictably bleak for the short term and sees a recovery coming by 2011 "at the earliest."

The good news is that prices have largely stabilised. And the firm notes that the value of mortgages as a percentage of sales is on the rise, "reflecting easier access to home financing."

But look more closely...

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The Pulitzer board announced the winners of its annual prizes yesterday, and the 2010 winner in the "history book" category is Liaquat Ahamed, the author of "Lords of Finance: The Bankers Who Broke the World." The Pulitzer judges called it "a compelling account of how four powerful bankers played crucial roles in triggering the Great Depression and ultimately transforming the United States into the world's financial leader."

 We agree with their opinion, and recommend the book to anyone wanting a clearer picture of how human frailties can cause global financial suffering. And how they likely will again. In fact, Personal Finance was an early fan of the book, and we shared its message with our readers early last year.

As a wise man said, those who fail to learn from history are doomed to repeat it. (And that can as easily apply to your personal investment portfolio.)