Comments from US home improvement store Lowe's
US monthly comps:
- Feb +5.1%
- March +8.9%
- April +20.4%
The company says second quarter same-store sales trending at or above April's 20% growth.
Housing is an interesting axis of the virus. People are spending more time at home than ever and many will now forever work at home more than ever. That may lead to a larger investment in housing, or people stretching their housing budgets. Alternatively, people may move further out into the suburbs if they have the option to telecommute 2-3 times per week.
At the same time, unemployed people can't buy houses so that's the downside.
Still, if/when we get to the otherside of the virus, and assuming the economy gets back to where it was -- interest rates will be ultra low and the sky is the limit for US housing, which is relatively cheap compared to many developed countries.
