Eventually, we all have to face the consequences of our actions. The construction industry exists in its present form due to key historical decisions, some of which Construction News has recently tracked. As a result of the late 1960s market dip following the post-war boom, the high interest rates of the 70s and 80s presented a lucrative home for contractors' surplus cash. With interest rates peaking at 14.8 per cent in 1990 during a recession, investments were continuing to do well. But contractors' housebuilding arms -then a mainstay of the prevalent business model - began to struggle, as interest rates made mortgages prohibitive.
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