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The real problem is Canada's economic growth is a mirage: In 2018 (the latest data available) Canada's GDP grew by 1.8% but population grew by 1.5%. In other words, Canada's economic growth is almost entirely a result of increased immigration.
This. Canada's "economic growth" is basically a ponzi scheme of incentivizing massive Asian immigration and resource extraction. There is very little innovation or wealth-building generated by Canada. There are no great universities, no innovation clusters, no disruptive startups.
Of course, Canada has many, many positive attributes, and does many things better than the U.S. But its "growth" is a house of cards. It might be the biggest property bubble on the planet, with low wages, extreme housing costs, and a flood of Chinese/Indian immigrants keeping everything intact.
If the U.S. ever liberalized immigration policy to match Canadian levels, Canada would be in deep recession within a year. They're basically benefiting from the fact that the U.S. is in a nativist phase, so immigrants come to Canada instead.
And that doesn't even touch upon the fact that there has not been a single major international corporation coming from Canada since Blackberry collapsed.
Bombardier and Magna International would like to have a word with you.
That having a larger GDP statistically correlates to a higher volume of development and construction? By that logic, Boston and DC would both have killer skylines and transit systems by now.
Nothing in North America comes even close to this place, and what's going on there now.
Thank you! New York will have 20(!) supertalls after all current U/C projects are complete. It is surpassed only by Dubai.
And even more importantly, New York has 5 buildings over 400m in the pipeline, including a 1,556' Tower Fifth, a 1,450' 350 Park Avenue, and a 1,425' new JPMorgan Chase HQ. And this year we likely find out what will happen to the Grand Hyatt site, which is expected to surpass One Vanderbilt in height (1,500+).
With the Midtown Upzoning in place, the next decade looks very bright. I expect 30+ supertalls by 2030. If we replicate the past decade, New York could hit 40 supertalls in 15 years!
Toronto is only now building its first ("The One"). It's currently under a stop work order because they didn't do the proper paperwork lol. That tells you all you need to know about the real Skyscraper Capital.
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