When money is cheap, interest rates drop. When interest rates drop, assets that provide payoffs further in the future gain value relative to assets that provide payoffs closer to the present. Therefore, sectors that are expected to offer high returns in the far future will see resources diverted toward them.
Logical deduction versus empirical demonstration
Austrian economics is founded on a deductive epistemology. If one has true premises and reasons deductively, then the conclusion absolutely must be true. "Tests" are superfluous. (Similarly, the Pythagorean theorem is true because of the logic underlying it, not because we've failed to find a right triangle for which it wasn't true.)
Part of the reason that Austrians generally don't provide "the numbers" is because they are keenly aware: (1) that relevant economic data is highly dispersed, (2) the economy is a complex structure and (3) relevant economic laws are all counterfactual.
...there is another asymmetry. As the housing market expands in the 1990s through 2006, people are drawn into construction because they see the higher wages. They begin to invest in the skills of the construction business.When it collapses, they have to decide what to do instead and how long to wait before doing it.