Have saturated markets for houses, cars, and other durables been observed during contractions in the 1930s and the 1970s?

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Sudden increases in raw material prices, such as occurred with copper during the early days of electrification in 1907 or oil in the 1970s, likely played some role in inducing recessions. Electrification, the assembly line, the automobile, and the television are among a number of major technological innovations that almost certainly had some impact on the level of economic activity and employment. As prices of many products rose, consumers and investors reduced their purchases. Saturated markets for houses, cars, and other durables have been observed during contractions in the 1930s and the 1970s. New products usually, but not always, cause increased investment and employment, while new production processes generally cause employment to fall.