The population of the city peaked at 28,523 in 1980, just before the oil bust and subsequent economic downturn.
However the subsequent economic downturn has reduced the value of Desmonds holding in the bank significantly.
But he said he generally approved of the skeptical tone of many news reports about both the real estate boom and subsequent downturn.
Market saturation caused a subsequent downturn as working-class wage levels proved too low to enable the market to be extended further.
However, the subsequent downturn, and Greenspan's admission of having been wrong, may have discredited that view.
These plans were also eventually abandoned, mainly due to the world banking crisis and the subsequent downturn in the island tourist economy.
Many of those West Virginia coal miners hired in the 70's lost their jobs in subsequent downturns.
However, ridership fell with the subsequent economic downturn and high unemployment in the latter half of the decade.
The oil boom of the 1970s benefited Bahrain greatly, although the subsequent downturn hurt the economy.
Significantly, in the subsequent downturn that high participation rate has held.