this post was submitted on 14 Oct 2023
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Well that's interesting. That seems like a pretty sound argument - we want less consumer spending, except on housing where we want more, so you need to offset the impact of rate hikes in just that sector. Or maybe we could try an alternate way to cool the economy, besides interest rates? It'd be risky though.
I still wonder why we have this problem in the first place. It sounds like our construction industry is unproductive for it's size but I can't fathom why.
It's baffling how long construction takes here.
A right of way for TransCanada pipeline going between houses near where I live has been fenced off and being worked on for almost 2 years now. It's like 200m long.
The highway expansion and overpass replacement nearby has been about 1.5 years now and probably still another 6-12 months away from completion.
Highway repairs from flooding have been ongoing for 2 years now coming up next month.
That's what the data points to as well. We have an appropriate amount of construction workers (edit: or at least in a similar shortage to elsewhere), and the costs of things isn't all that different from the US either. And yet, the output is tiny.
What I really need is to hear from someone who's actually worked in construction on both sides of the border.
I'm a construction worker in Ontario, and I know it's anecdotal, but almost every trade worker has told me the same thing - we're busy as hell but we can't find guys to hire. Pretty much for the past 3 or 4 years, that's all I've heard. I was pretty much hired on the spot when I joined the carpenters union in 2019, and I worked with a 19 year old kid who walked into the union hall the day before, and they asked him if he could start the next day. With literally 0 experience. I think we are really hurting for trade workers.
That's what I hear from my buddies in construction also.
Good luck out there bud!
They're all busy as hell out here, as well. The US has a similar situation but I guess they make it work? Hmm, maybe they're relying on a lot of illegal immigrants that don't show up in stats.