I've seen boom to bust construction cycles at least half dozen times in my life. Younger guys get into the business when demand is hot, spend lots of money (credit) on big new trucks, equipment, etc thinking the demand would never change. Then demand changes. New home construction is cyclical, remodeling/repair work is relatively consistent. I hated remodeling, especially the demo phase. I really hated old houses where nothing seemed square or plumb. My dad was so desperate to keep his crew busy one summer that he took a job to replace metal roofing on a huge barn. It was a couple of weeks of work for his finish carpenters that they would not have had if he had refused the job. I saw the stress he went through during the Carter years and decided this was not a career path for me. That stress isn't worth it. My dad died at age 50.