June 24, 1992 |
In the late 1970s, Canadian building companies flush with cash from their country's economic boom swarmed into Southern California to take advantage of this area's building frenzy as well. By 1983, as the dust settled from the collapse of the Southland banking and real estate industries, most of the Canadian firms were gone. Now some of them are coming back. As bad as the recession and building bust have been here, things in Canada are even worse. The jobless rate there is 11.