Every generation of builders faces its own version of uncertainty.
In the early 1980s, builders fought to survive double-digit interest rates and inflation that made financing nearly impossible.
In 2008, the crisis hit home—literally.
On September 25, 2008, the financial system detonated here in Seattle. Federal regulators closed Washington Mutual at the end of the day, marking the largest bank failure in American history.
More than 5,000 well-paid headquarters jobs vanished overnight. A brand-new skyscraper emptied. Vendors and service firms—many who worked shoulder-to-shoulder with builders and developers—were left stranded.
A hometown institution that had survived the Great Depression and the savings-and-loan collapse was gone, and with it, Seattle’s status as a financial hub.
For builders, 2008 was a line in the sand. Credit evaporated, and projects halfway framed sat under plastic sheeting as banks froze or pulled loans. The shock rippled through every part of the housing ecosystem.
But what we remember most is how the builders responded. They didn’t quit. They scaled back, retooled, and rebuilt. The ones who survived learned lessons they still carry today—how to run lean, preserve liquidity, and find financial partners who understand construction from the ground up.
Today, another generation faces its own storm: high costs, labor shortages, and tighter credit. On paper, it looks uncertain. But the lesson of history is clear—construction never stops; it shifts.
The Q3 2025 data tells a familiar story: residential starts are softening, margins are tight, and confidence is cautious—but still climbing. The best builders are adapting, finding efficiencies, exploring new partnerships, and continuing to build.
Because that’s what builders do. They bet on the future when others hesitate. They turn uncertainty into opportunity, risk into reality, and vision into neighborhoods.
The history of this industry is proof that uncertainty is not the end of the story. It’s the beginning of the next one—where you are the main character.
