 Construction slowed, and property values slumped.By 1880, however, the recovery was well underway, with new construction in New York returning to the pace of 1871, and the economic upturn making the construction of taller buildings an attractive financial option again, establishing many of the preconditions for the development of the skyscraper.The emergence of skyscrapers was made possible by technological improvements during the middle of the 19th century.