3 ms·
The GVRD has some of the most expensive real-estate in the world, and a lot of other external factors driving business decisions. The high lease churn-rate is
by Joel_Mckay 2mo ago
The GVRD has some of the most expensive real-estate in the world, and a lot of other external factors driving business decisions. The high lease churn-rate is also part of the problem, as commercial businesses have zero legal protection from extortionary rate increases.
There is also a large southeast asian population in that part of the city. Lots of nail salons, bubble tea shops, and cheap import products. With a Crystal Mall across the street, and no paying customers walking around. =3
- cwnyth 2mo agoWell, I think you have your answer. I happen to agree with that answer: extortionary rates are killing American businesses. In the words of Jimmy McMillan, "The rent is too damn high!"
- Joel_Mckay 2mo agoKeep in mind in the GVRD some real-estate holding companies are still leveraged over 17:1 debt:assets, 57% of inhabitants are poor renters, and over 17% of private mortgages are in negative amortization. I wouldn't touch the place with a 10' pole, or any other assistive technology. =3