Initially successful, David and his company were hit hard by the 1980s oil and real estate bust.
The real estate bust caused an underfunding of the pension plan of over $300 million dollars.
City government didn't cause the real estate bust of the 1970's or the stock market boom of the early 1980's.
They didn't think a real estate bust could happen.
The large banks, some say, are overpriced, as if the financial and real estate bust had no effect on them.
Few would have chosen selling property as a career during the Northeast's four-year real estate bust.
The real estate bust beginning 2007 and extending into 2008 hit Athena hard.
More recent data also shows that fears of an imminent real estate bust may have been premature.
Canary Wharf has already suffered through a real estate bust in the early 1990's.
Like other multi-billion-dollar projects, however, it stalled in the real estate bust of the late 1980's.