Chart via Kevin at saskatoonhousingbubble, who also points out “The long term average of the Canadian labor force employed in construction is just under 6%. Right now it is over 7%. … BC is in absolute crazy land with almost 9% of the working population employed in construction.” [Thanks Kevin.]
More misallocation of resources.
Sheds light on why the Provincial Government would want to keep this going.
After the housing mania ends, by the next price trough, about 40% of those construction jobs will have evaporated. Possibly 50%.
(Aside, for TA lunatics: Failed double-top.)