Open Question: Is the booming real estate market of 'Dubai' still 'RED-HOT' and still booming ?

I just watched a tv show on CBC television, it was called "Doc Zone: Dubai: Miracle or Mirage?", and on that show they talked about how the real estate market in Dubai was exploding, how prices for homes were going up 5% or more in a week ! Is all of this still happening today? WOW ! They said that in typical real estate developments it takes 10 years from start to end, but in Dubai everything is on "fast speed" and developments usually take only 3 years or less. People go into shopping malls and the first thing they stop at is the real estate displays and buy 2 or 3 houses or condos ! America's boom ended a year ago, is Dubai still booming like this ? And if it is, then WHY? What does Dubai have that America doesn't have, to keep its housing market booming? And Dubai Inc corporation, the development company says that their construction is booming in America, even today. Is this still true?