Vacant Retail Properties Surge As Boarded Up Windows & Guard Dogs Become A Way Of Life In America

Vacant Retail Properties Surge As Boarded Up Windows & Guard Dogs Become A Way Of Life In America

Retail vacancies are accelerating rapidly across major US cities as more people rush to escape the city. NYC seems to be one of the hardest hit and is beginning to resemble the story of the great flight from Detroit that crushed the cities economy and helped deliver the cheapest housing prices of any major city. Commercial real estate prices are dropping fast as empty storefronts across manhattan surge 78%. Many who choose to stay have boarded up windows to continue day to day operations but many more never chose to open again after the event. This is a story echoed across America as retailers and restaurants are being forced to close and their brave customers scattered by megaphones leading many to not even restock their store.

Many people thought things would return to normal and stores would (cash their “insurance checks”) restock their merchandise after the trouble but many stores who had their inventory stripped have decided not to do that at all and their store remain boarded up and empty. We have been covering store closures but there is an untold number of retailers in a suspended state of animation waiting to be renamed (closed permanently). Retail has been one of the hardest-hit sectors during the 2020 recession and is a major contributor to jobs and has been so far during this “recovery” it’s unknown what could happen should they have a total failure.

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