Lessons from the Boom-Bust Cycle
Navigating the Unpredictable Home Building Market
Published August 30, 2024
Weathering the Downturn
When we started the downturn that we’re just getting past, EnergyLogic decided to do our best to keep our people as long as possible. That was an expensive decision, and it looks like we might have managed our own “soft landing” at least internally. The point of that was to keep people who we made a big investment in and be ready for the next upturn. We didn’t know, of course, how long it would last, how high the Fed would raise rates, how long they would keep them up, all of that. We did know that it would come to an end, and we wanted to be as ready as possible to meet demand on the other side.
Planning for the Future
While that worked out, mostly, we do find ourselves struggling to keep up. It may seem unusual to admit this, but it’s reality and I know with certainty that pretty much every other trade is in the same or a similar boat. We are in a better place than we would have been if we had laid off staff to keep some semblance of profitability. We’re playing the long game and we think it will pay off. I am happy to note that we’ve hired four additional field staff and have more coming.
Looking Ahead
Here’s to hoping that the boom-bust cycle is a little less of a wild ride the next time. And there will be a next time. Thanks to all of our partners for the work. We appreciate you!
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