S03E02 – Hellcession: Surviving the next downturn
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A tidal wave is coming. I’m sure of it. I’ve been in business long enough to have lived through at least three big recessions. The next one is coming fast. But you don’t have to take my word for it. Just look at the facts. We are in the midst of one of the longest periods of economic growth in history. The housing market hit record highs during that time and the Dow Jones climbed to a record 26 thousand points last year. But change is coming. You can already see it affecting housing prices which have begin to decline and in the huge debts being racked up by governments and individuals alike.
This week on the show I’m joined by my old friend John Mollenhauer. John is the President of the Toronto Construction Association and knows the industry better than anyone I know. Together we debate the likelihood of another recession. And most importantly we talk about how the construction industry will deal with another downturn. Many young business owners weren’t around for the last downturn in 2008. What’s the best way to prepare? Listen to today’s episode for details about how to survive the next next recession.