The Slowdown Is Upon Us! Recession Looms! If you happen to practice architecture within the housing market, those terms might literally apply to you. The subprime-lending crisis subjected residential investment to the harsh glare of prime time, leaving the entire housing industry stranded like a deer in the headlights. Pick up today’s paper, and it might seem that all design professionals will face bleak times in 2008. What’s an American architect to do?

Before you consider standing in the bread line, consider the following facts: For all our fascination with China and Dubai, the United States remains the most vibrant and active economy in the world. McGraw-Hill Construction economist Robert Murray says, “The pullback for nonresidential building in 2008 is likely to be gradual, especially when compared to the sharp correction that’s already been experienced by housing.” Gradual, not precipitate.