It’s not a “bad economy” until it affects the highly educated professional class.
10%? That is right on the money with the cost of goods probably around 20% avg. Not easy to make ends meet for a small business right now.
Do these people not believe in leases?
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Yeah it is because there will be cascading defaults if small businesses cannot afford the rents much less rent increases programmed into the financial arrangements that the property investors are counting on to cover loans, expenses, or provide income to pay their own living costs.
“The study found that roughly 37 percent of small businesses - almost half of all Americans working in the private sector - were left unable to pay rent in October....”
What the study isn’t telling you is how many of those businesses weren’t paying rent even before the inflation hit. Commercial tenant delinquency has been an issue ever since the lockdown.