TRG | The Bottom Line – 1/8

Perhaps one of the obvious but difficult points to discuss from a financial perspective is the ripple effect of social/societal impacts COVID-19 has had and will continue to have. We believe this is the most transformative change since the end of WWII. Among the transformative changes include the acceleration of the shift of population to the Southeast and Southwestern U.S. As 2020 came to a close, several major corporation have announced relations to Texas and other key sunbelt states. While the number of employee relocations is not significant (yet), these relocations will drive incremental residential and nonresidential growth.