3 ms·
Unclear IMO. Vacant storefronts in big cities don't represent that much of the economy and without getting too into the weeds, the way they are financed often
by Hermitian909 5y ago
Unclear IMO.
Vacant storefronts in big cities don't represent that much of the economy and without getting too into the weeds, the way they are financed often incentivizes owners to keep them vacant for potentially >10years racking up debt rather than rent below a certain price point which would trigger legal mechanisms that force them to put up a lot more cash immediately.
Absent vacancy taxes or some new regulations on commercial real estate the problem might persist indefinitely.