Reno market may be slow to recover, says top economist

TORONTO — Getting the renovation market back on track post-pandemic will have its challenges, says one of Canada’s top economists. Peter Norman is vice president and chief economist at Altus Group, which supplies data and advisory services to the commercial real estate industry, including builders, developers and manufacturers. He admits that the upheaval created by the pandemic will be major. “I think it’s going to be a weak year because so much has been interrupted.” As people come out of lockdown, due to the economic and emotional consequences of lockdowns, they may not be so keen to start renovating.

(The full story on Peter’s outlook for the coming months appears in next Monday’s edition of our weekly Hardlines newsletter. I invite you to join the family of subscribers who receive Hardlines every Monday to get the latest in-depth, proprietary news on Canada’s top home improvement retailers. Please click here to try out the Hardlines weekly for free for a month!—Editor)