Since 1980, property cycles have emerged emphatically as a phenomenon of urban development in both developed and developing countries. Among the many things which need to be explained is the continuing high levels of financial investment in property sectors, even well past the time when supply...

Addresses issues and questions in an evaluative review of the insolvency of office developer Olympia and York at Canary Wharf in 1992. Asks: what made a large, private company internationally vulnerable? Why could property cycles with their risks become internationalized, notwithstanding that...