It’s this. I work in commercial real estate. If a “goes dark” (stops doing business at the location), property owners can have loan obligations such as as cash management (the bank receives tenant rent checks directly instead of the person who owns the property). This happens even if the tenant is still paying rent because if office in the strip mall closes, no one goes to the restaurants and in turn they can’t pay rent either.
Personally, I disagree with this. This feels like we are forcibly propping up this system instead of letting it evolve naturally. I think we should let those corporate zones die and move restaurants and shopping closer to residential areas.
It’s this. I work in commercial real estate. If a “goes dark” (stops doing business at the location), property owners can have loan obligations such as as cash management (the bank receives tenant rent checks directly instead of the person who owns the property). This happens even if the tenant is still paying rent because if office in the strip mall closes, no one goes to the restaurants and in turn they can’t pay rent either.
Personally, I disagree with this. This feels like we are forcibly propping up this system instead of letting it evolve naturally. I think we should let those corporate zones die and move restaurants and shopping closer to residential areas.
Crony-capitalism in a nutshell.
Literally, this is the inevitable result of failing to regulate the market. This is what laissez-faire always devolves to, by its inherent nature.