Actually . . . Internets commerce has more to do with it . . . But here's the contention from this online biz mag that offers a glimpse into the sordid world of real estate . . . Check-it:
"So if COVID isn't to blame for all the shuttered stores, what is? Well, when a landlord doesn't lower the rent to get a new retail tenant, it's because that landlord can't. The market that sets retail rents isn't only between tenants and landlords. It's also between landlords and the banks that finance the buildings. And the banks, in many cases, won't let property owners lower their rents enough to fill their properties. The pandemic may have emptied out America's storefronts, but it's banks that are keeping them that way."
Read more via www.TonysKansasCity.com link . . .
The hidden culprit driving America's apocalypse of boarded-up storefronts
The pandemic kicked off a "doom loop" that has gutted cities and towns across the country. Big banks are making it worse.
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