Dear Reader, Welcome to the fall 2020 edition of the rennie landscape. If you’re reading this, you’ve officially made it to the last quarter of 2020. Nevermind that just around the corner looms British Columbia’s provincial election, a US presidential election, and a second wave of Covid-19; you have survived sixmonths of a global pandemic, anunprecedented economic downturn, wildfire smoke, and moths. Congratulations. In all seriousness, it is hard to recall another year quite like 2020 has been so far. Perhaps it has been, in a truly absolute sense, an outlier, encapsulating within a single calendar year a series of events whose cumulative probability was so low we won’t see another one quite like it for a generation (or hopefully more). Perhaps. Or perhaps it was inevitable. Perhaps the seas were smooth for so long that skilled sailors we had forgotten how to be; perhaps 2020 was a reversion to some sort of mean. Without the benefit of being future historians, how can we know? What we do know is that as we experience, without hyperbole, unprecedented changes and challenges to our economy and housing market, we are also being presented with a glut of new data and perspectives that we must sift through in order to assemble a cogent view of the future. In this report, and against this backdrop—one notably punctuated by uncertainty and fear—we have attempted to do just that. It is worth stating that this edition of the rennie landscape, more so than any of its predecessors, has purposefully tasked itself with proving an objective foundation for considering the changes we have undergone and others we have yet to experience. While we hope the rennie landscape can answer at least one or two questions you may have, or clarify a thought that simply won't firm up due to the cacophony of information competing for attention, we ask that you nonetheless reach out to us with any questions or thoughts on our future that you may have. We’d love to hear from you. Be safe and stay curious.
Ryan Berlin DIRECTOR OF INTELLIGENCE & SENIOR ECONOMIST intel@rennie.com
rennie.com
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