There are other ways to do real estate. He likes Tricon. He thinks there might be a continued setback for student residences. Tricon has housing in the US where there is demand for their houses.
(A Top Pick Dec 31/20, Up 25%) Home renovation has benefited them. It is stronger than Lowes right now, because Lowes is going through some restructuring.
(A Top Pick Dec 31/20, Down 4%) Now they are getting into more integrated businesses, more like Loblaws. The change was a bit of a surprise. Markets don't like surprises. He continues to own the stock.
These businesses have been kept alive by Uber-eats. He thinks there will be a pick up in demand after COVID.