The global crisis that erupted in 2008 has left unmistakably deep scars in architectural culture. But what is happening now is not solely attributable to what began as a mortgage crisis; many of the causes lie deeper, and go back further than a few years. In a way, the recession has simply accelerated, and exacerbated, various pre-existing trends. Without overstating the case, the West, and above all Europe, is undergoing such major change at the beginning of the twenty-first century that it is no longer logical to expect the future to be simply an extrapolation and continuation of the recent past. And this could well have far-reaching consequences for architecture. Of course, this is not the first time that people have declared that things will never be the same again. And up to now reality has usually turned out to be a good deal better than predicted. But there are reasons why architects in Europe should consider the possibility that this time it really might turn out differently.