June 29, 2020
To paraphrase Bob Dylan (formerly Robert Zimmerman, of Hibbing MN.) “the times, they are a-changin’” – and fast! The coronavirus has led to previously unimaginable changes in lifestyle. In a manner of mere hours, our homes became our offices and classrooms. The convenience of our densely populated cities suddenly became a liability, even a health hazard. And discretionary spending was halted, like a derailed freight train.
Some are predicting that there is no going back; to the cities that is. In a survey of 1,000 city dwellers conducted by Wall Street firm Jefferies, nearly a quarter (23%) said they were planning on relocating to suburbs in the next 18 months. Further they see this migration as a driving force that will cause renters to become homeowners, which will result in an increase in spending on home improvement.
It does not take advanced math to calculate the size of a suburban mortgage that a high-earning couple could take on, in lieu of nosebleed high apartment rent in our central cities. In fact, places like New York and San Francisco are going from property owner’s markets to renter’s markets due to the outflow.
• Record second quarter revenues of $2.28 billion, an increase of 35.1 percent from last year • U.S. same-store-sales up 35.3 percent; Acehardware.com revenues up 493 percent • Record second…
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McGuckin Hardware is ending its 30-year partnership with the True Value co-op as of Dec. 31, 2016, and will start buying from the Ace Hardware co-op as of Jan. 1,…