Yes indeed, the real estate sector has replaced manufacturing as the largest sector of our economy. Canada has become dependent on the real estate sector because Canada has difficulty competing with overseas manufacturing where regulations are far less onerous and labour laws are virtually non-existent. We do well at manufacturing houses and condos because they are tied to this land - a unique 'product' that no other country can 'manufacture'. Unfortunately, much of our wealth has been transferred overseas in return for cheap manufactured goods. That wealth is now being used by overseas investors to buy the most valuable and unique product that Canada has to offer - Canadian land. Welcome to the global economy where a couple hundred TV's are traded for an acre of land.