 The housing bubble burst in late 2007, leading to the Great Recession of 2007 to 2009.Home mortgage foreclosures in Ward 5 were the highest in the city.As property values plunged in Ivy City, D.C. Mayor Adrian Fenty announced a new program in which four developers would transform 37 city-owned distressed properties (apartments and houses) in a six-block area of Ivy City into market-rate and subsidized housing for low-income families.