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. Full definition
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)