Investment in the construction and residential sector within Canada, including highrise and skyscraper towers, now accounts for 7% of the Canadian Economy, higher than it's historic average yet, lower than at other points during long and high construction booms. In Toronto alone, construction jobs are roughly equal to 300,000 positions. The long term average of construction within the Canadian Economy is about 5.8% The construction industry in particular in the Toronto area, is being driven by a lack of available land to build single family homes. This is forcing developers to build highrise towers which although more expensive to construct verus a single family home, each unit in a tower is relatively affordable compared to a stand alone home.
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