The phrase "estate bust" refers to a significant decrease in the value of real estate properties, usually resulting in financial losses for those who own or invest in them.
But most people had not really heard what a short sale is until the real estate bust in 2007. (wellingtonfloridashortsales.com)
When we started to negotiate a lot more short sales for sellers after the real estate bust in 2007 - agents did not even know what a short sale was. (loxahatcheeshortsaleagents.com)