Unfortunately either side can't blink. IF Metall can't back down because then other companies could get ideas to leave. And Elmu doesn't want to back down because then other countries could get ideas about unionising which would affect their bottom line.
I believe that the current housing bubble began to really go off the rails during the 2008 financial crisis due to decisions made by the Conservative Party of Canada at that time. Instead of addressing the issue directly, the government chose to stimulate the housing market through incentives and policies, effectively artificially inflating it. Subsequent governments have followed a similar path.
As we've seen, the accumulated potential energy in the housing market has now grown to such an extent that we don't know what to do with it. Eventually, the "sandpile effect" is likely to come into play, since the laws of nature always wins.