The series of charts gathered by Lance Roberts in his July 26, 2013 post "Housing" - Is It Really Recovering? demonstrate that in the U.S. the so called Housing Recovery is mislabeled and perhaps is more an example of Capital leverage over Labour.
I took at look at some Canadian charts (left) and see that in Canada a similar condition is occurring with the Balance of Trade being stuck in a negative channel for the last 5 years (in the U.S. it's been negative since 1980's). Canadians are regularly consuming more than they produce and in the last year and half, Labour costs for Capital have plunged back to 2005-2006 levels.
Can Canadian Labour learn how to leverage Capital to create long term value in the social contract?