Across the globe, construction spending has climbed back from the doldrums of the financial crisis.
Calculated Risk’s Bill McBride has dubbed it “the return of the cranes.” The tower cranes, that is.
Look no further than Canada — a country that managed to escape the brunt of the last few years. Our neighbour to the north has seen massive construction and an ever-bubbling housing market.
In Toronto, condominium construction is downright insane, with growth at a rate more than 200 deviations above the historical average.
Let’s take a walk down memory crane lane.
1996: Where are the cranes?
2009: OK, I see one
2011: Cranes here, cranes there
2012: CRANE INVASION
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