The rent bomb
Abandoned store front
High rent blight
Free money for big banks…
High interest (and rent) for everyone else.
Here are some of the weird distortions this is creating in the economy.
Stacy and Max are talking about how this is effecting New York City, but you can see this in malls all over the country.
Empty stores are a form of “speculation.”
Keep it empty because maybe a bank will come along and rent it for 3x the normal rate.