“One of the great things that’s going to come out of this pandemic is the innovation that could potentially happen to drive something different. These innovations could spur a productivity jump that could help to drive incomes and could help to move the world forward.” – Carl Gomez   

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Selected links and people mentioned from this episode:
RBC Housing Affordability Report
Bentall Kennedy
REIN
CERB

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CEO@reincanada.com
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Show Notes
[02:08] Patrick introduces his next guest, Carl Gomez.
[03:51] Carl and Patrick get their conversation underway with Carl’s elevator speech and wow is he speaking the real estate investor language! Linking economics and real estate to drive the best performance of that asset – woah.
[05:15] Carl takes us back to where he started with economics after grad school in Canada and shares his stopping points along the way from west to east.
[11:01] The interesting allegiance that comes with working for particular institutions as an economist who has a public presence.
[13:46] Even with the calculated research that Carl does, when a development such as unexpected global events, tenancy laws being upended, or a pandemic it blindsides everybody. Rental housing providers shoulder a lot of that impact and having economists to offer perspective is a tremendous support.
[15:16] Carl explains how the politics of pandering to the loudest voice in a constituency can lead to decisions being made that can create frustration for business owners.
[17:05] Economics and COVID. Using the re-sale market as an indicator, what is Carl currently observing in Canada’s broad housing market and what’s to come after the limitations and distancing begin to subside? Where may there be opportunities?
[22:31] Patrick offers his view for Carl’s assessment, of what he feels is to come. Innovation will unfold, but not without real challenges riding shotgun.
[27:35] Carl and his colleagues are also considering Canada’s economic recovery, risks, and the possibilities around what that make look like. U, V or W?
[33:47] The difficulties that come with government investing in employment benefits, and a consumer-focused economy without creating an environment that stimulates and incentivizes innovation and growth for small business and enterprise. The policy underneath it, is reflective of Canada’s current economic lag even before the pandemic.
[39:30] Looking at the positive side of this pandemic Carl explores the potential positive outcomes that look like technological innovation and a productivity renaissance.
[41:49] Carl addresses the challenge of “back to normal” thinking, going back to a world we used to know, when so many of the systems and ways we used to operate are fundamentally altered.
[43:40] Carl and Patrick discuss the shift towards smaller centres and country living vs. the one-time allure of concentrated urban centres and downtown living. For Boomers and Millennials alike, it hosts a range of barriers. Adaptability to the environment we need to create for our personal well-being is critical.
[50:05] Demographic pressure may change where developers thrive and the housing market will shift, but Carl gives his opinion of the puzzle piece that needs to be put in place for that to happen. Rental housing providers will also need to consider how they can adapt living space for their work-from-home tenants.
[51:38] Carl shares some trends he was seeing in the major centres before the pandemic hit Canada, with the type of rental units on the market and the value of rents. New factors stemming from the pandemic effect,