For decades now developers have been buying commercial property and shutting down the business. This makes the area less desirable and lowers residential prices
When those are “low enough” developers buy them up
The next step is usually getting tax money to “redevelop” the area and then they’ll reopen businesses and sell the residential at a high markup as an “up and coming neighborhood”. It’s just a money shuffle that hurts the majority of Americans and funnels wealth to the wealthy.
Do you have some examples? IMHO, few shareholders are willing to weather decades of losses like that in the hope that one day their investment pays off. I’m not buying it. No one buys property and then intentionally devalues it.
Not always…
For decades now developers have been buying commercial property and shutting down the business. This makes the area less desirable and lowers residential prices
When those are “low enough” developers buy them up
The next step is usually getting tax money to “redevelop” the area and then they’ll reopen businesses and sell the residential at a high markup as an “up and coming neighborhood”. It’s just a money shuffle that hurts the majority of Americans and funnels wealth to the wealthy.
It’s weird people still don’t understand this…
Do you have some examples? IMHO, few shareholders are willing to weather decades of losses like that in the hope that one day their investment pays off. I’m not buying it. No one buys property and then intentionally devalues it.