3 ms·
It's a Dow Jones article, so there's no reason to link through WSJ. For a non-paywalled version, follow this link: http://news.morningstar.com/all/dow-jones/us-
by georgecmu 10y ago
It's a Dow Jones article, so there's no reason to link through WSJ. For a non-paywalled version, follow this link: http://news.morningstar.com/all/dow-jones/us-markets/201701247334/mall-owners-rush-to-get-out-of-the-mall-business.aspx http://news.morningstar.com/all/dow-jones/us-markets/2017012...
For the most recent example of a failed mall, see Pittsburgh Mills: http://www.cnbc.com/2017/01/21/pittsburgh-area-mall-sells-for-100-at-a-foreclosure-auction.html http://www.cnbc.com/2017/01/21/pittsburgh-area-mall-sells-fo...
- throwaway40483 10y agoA $100 winning bid for the Pittsburgh Mills at the foreclosure auction. Not bad (and quite sad)
- chrissnell 10y agoWait until they get the property tax bill.
- georgecmu 10y agoIt's a bid from the bank that holds the mortgage -- mostly symbolic. In effect it's a transaction to write off the loan and take possession of the property. There were no real bidders, as the bank could raise the bid all the way to the amount they're owed without any real effect on their bottomline.
- deleted 10y ago[deleted]