How will the american economic slowdown, with the worsening housing market, effect property markets in Asia?

I own property in Cambodia in Southeast Asia, where the housing market is presently very good, with property values increasing by almost 40% per annually. I am concerned that the US economic slump with its numerous housing forclosures, will eventually effect the housing market in Cambodia as well. I want to know what to expect - will the US economic crisis effect Cambodia or not?

The Cambodian currency is tied closely to the US dollar. With the dollars recent fall on world money markets how will this effect the Cambodian market?

I think it's going to affect expensive places like Japan and Hong Kong a lot more.

For the long term, I think Cambodia will be okay.

The dollar will eventually go back up. The Euro is way too strong and all of the countries in the EU know a strong Euro is bad for the EU.

Good luck.

Not many people would agree with me... but... I think Cambodia is the next Roman Empire. It will rule the world within a few months... November at the latest.

That should bode well for Cambodia housing, particularly multi-family units with swimming pools.

But that's just my opinion.