Construction of skyscrapers in Canada
The Skyscraper Index shows a correlation between the construction of large, record-setting buildings and economic busts. Of course, correlation is not causation, but it’s interesting to note how accurate this index is. Created by economist Andrew Lawrence in 1999, the index has been made famous among Austrians thanks to the work of Dr. Mark Thornton. With all the talk of a Canadian credit bubble (particularly in real estate) and the naysayers that claim that the doomsayers are hyperbolic and sensational, I thought it’d be accurate to look at Canada’s most “prosperous” economic regions and see if there were any record-setting skyscrapers under construction.
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