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given the choice between no money and money, most will choose money, and no amount of 'it depends' will change that the fact that some people let some building
by ImPostingOnHN 3y ago
given the choice between no money and money, most will choose money, and no amount of 'it depends' will change that
the fact that some people let some buildings sit empty for some time doesn't mean most will let most sit empty for most of the time
after all, the next best alternative for building owners is foreclosure or abandonment or sale at a loss, the next best alternative for businesses is 1 of a thousand different places, or just a remote workplace
- latchkey 3y ago> given the choice between no money and money, most will choose money They might not have the choice. Nobody is going to rent ground floor retail space in an area with no foot traffic. It is a race to zero all around.
- ImPostingOnHN 3y ago> Nobody is going to rent ground floor retail space in an area with no foot traffic of course they will, at a low enough rent, obviously, which is the point: lowering rent is indeed a choice, as is going bankrupt, abandoning the property, foreclosure, or selling it at whatever price
- latchkey 3y agoThere is a ground floor retail spot near my house with a for-rent sign on the front, that has been empty for years. People have their reasons.
- ImPostingOnHN 3y agoin that case, the reason is that the owner failed to lower rent, declare bankruptcy, abandon the property, get foreclosed on, or sell the property let the owner rent it for a dollar a month and we'll see if it gets rented
- latchkey 3y agoYou left out one other case... the owner wants a specific tenant or in the example that started this whole thread, a Chipotle.
- ImPostingOnHN 3y agowho cares what the owner wants? the owner probably wants a billion dollars and a pony, too, but what they can have are the options I listed the reason they don't have tenants is because their asking rent is too high and demand is low in capitalism, that means they should lower rent
- latchkey 3y agoOne more reason I just came across for you... maybe nobody wants to open a store in Gotham City and no amount of free rent can convince them otherwise... https://twitter.com/bett_yu/status/1685778275975761920 https://twitter.com/bett_yu/status/1685778275975761920
- ImPostingOnHN 3y agoNot a very convincing hypothesis.
- latchkey 3y agoHave you ever owned a retail business in Gotham City? I have and I would never do it again.
- ImPostingOnHN 3y agostill not a convincing hypothesis instead of trying to make the conversation about me or you, and instead of citing maybe-true singular anecdotes which don't prove your case (that space is limited, and lowering rent won't increase rentors), try just presenting the aggregate data showing that commercial landlords en masse have lowered rent to a dollar and still have these vacancies WAIT!!! Wait. I fear what you heard was, "argue about your anecdote some more", but what I said was, show us the data