Ms. Allin considers Tucson lucky — the airport was not caught midproject when the downturn occurred.
"Then when a downturn occurs, black dealerships are less likely to weather economic storms".
THAT downturn occurred after a rash of unwise lending led to overbuilding that crippled the real estate market and shattered some major financial institutions.
Borrowing for consumption of things like vacations, luxury items or personal whims, fantasy, vanity and extravagance can be hazardous when an economic downturn occurs.
If a major global downturn occurs and begins a more lasting decline in energy demand and prices, as happened in late 2008 and 2009, it could throw off forecasts.
Vacancy has increased disproportionately in this sector of the hotel industry because the downturn occurred just as the supply was increasing, said Robert I. Bowers, Jr., a senior vice president at Smith Travel.
Faced with all this, the economy fell into recession in 2006.This downturn occurred just as the Mexican and American governments were cracking down on cross-border drug routes, driving traffickers towards Puerto Rico.
Mark Obrinsky, chief economist at the National Multihousing Council, a trade association in Washington, added, "As times get tougher, some people on the verge of buying will postpone their home purchase and continue to rent, which is a reasonable cushion for rentals if a downturn occurs".
Nicholas Apps, director of special programming and events at the Museum of Modern Art, said of its annual fund-raiser in May, "We knew we had to rethink the look and the price point once the downturn occurred — it would be harder to sell $100,000 tables, and it had to look attainable".
