The years 2007 to 2014 were a golden age for real-estate sellers, developers and builders in Ecuador.
The real estate and construction businesses in Ecuador were boosted by a booming oil industry and a national government that was pumping massive spending into roads and infrastructure.
Since then, the bottom fell out of oil prices. The economy soured. The real-estate picture has completely changed. It has been a brutal two years for the real estate business and the many related businesses that serve it.
The national real estate association reports that there was a 60 percent drop in real estate sales between April 2015 and April 2016 -- the latter month being when the coastal earthquake hit.
That drop followed a 20 percent decrease in the previous year.
Construction companies have been operating at a level about 70 percent below the business they had previously.
Real estate sales on the coast have come to a standstill since the earthquake.
However, the builders will be busy for years with re-construction on the coast.