Islamic State's bombs regularly devastate parts of the capital, and still the real estate market booms. Why?

Because there is so much "dirty money" in Iraq that needs to be laundered. If you lack the political clout to get your stolen money out of the country, then the safest course is to put it into residential property. Although that's not a very safe bet either when the entire pseudo-democratic system bequeathed to Iraq by the United States invasion is on the brink of collapse.

The recent intrusion into the Green Zone, the vast (10sq km), blast-walled government compound in Baghdad, by thousands of angry Iraqis was probably the beginning of the end of the current dispensation in Iraq.

After only two days they left on May 1, after delivering an ultimatum calling for wholesale reform of the government, but they vowed to return if it does not happen.

It will not happen, and they will be back in the streets soon.