No signs of new dreams as yet as per my opinion and neither are there any signs of crumbling markets.
All investments now will bear fruit in the long-run and prices have been stable for quite a few months now. If the international markets collapse then this will have collateral damage effect on Dubai market, otherwise the market is expected to remain steady for a year or two before we start to see any upward trends. In fact there might be another correction with up to 10% decline, however more or less the prices we are seeing now are the lowest they have ever been and are expected to stay put for the coming months.
Its not a bad time to invest as rental yields are still above 5% which is the worldwide norm and in some places you are getting a yield of 10% which is still phenomenal.