Don’t neglect the fact that commercial real estate owners will arbitrarily jack rent 3x year over year. It’s basically the reason that established restaurants go out of business. Almost every restaurant that is over 20 years old owns their building.
The commercial real estate market, of all things, should be able to self-regulate. A property sitting empty is losing them tax money, get too many shuttered businesses together and the property value drops.
Few things market-correct in these late-day capitalism hellscapes, but commercial property either corrects or gets bulldozed and bought by someone who corrects (and maybe rezones) it. Sometimes it just takes a decade or so.
Don’t neglect the fact that commercial real estate owners will arbitrarily jack rent 3x year over year. It’s basically the reason that established restaurants go out of business. Almost every restaurant that is over 20 years old owns their building.
Yeah, it’s
turtlesgreed all-the-way down.The commercial real estate market, of all things, should be able to self-regulate. A property sitting empty is losing them tax money, get too many shuttered businesses together and the property value drops.
Few things market-correct in these late-day capitalism hellscapes, but commercial property either corrects or gets bulldozed and bought by someone who corrects (and maybe rezones) it. Sometimes it just takes a decade or so.