Posted on 12/30/2008 7:54:41 AM PST by Red in Blue PA
The dismal holiday shopping season may sink some retailers and could take down some U.S. malls struggling with rising vacancies, softening rents and their own large debt loads.
"This is probably going to go down as the worst season in history as far as retail sales," said Victor Calanog, director of research for real estate research firm Reis. "The difficulty of ascertaining what the effect would be at the property level is because we're already heading toward a train wreck."
At the end of the October, the International Council of Shopping Centers (ICSC) forecast that national chains would announce 6,100 store closings in 2008 and 3,100 in the first half of 2009.
(Excerpt) Read more at cnbc.com ...
I'm not a Mormon but I do take their advice on this.
http://lds.about.com/od/preparednessfoodstorage/p/foodstorage.htm
If these economic trends continue, I will spend even less next year.
We have two large malls in our area. They were both busy as heck this holiday season, but for the rest of the year, they see relatively few people.
Also, there are fewer and fewer tenants who can afford the outragious rent the malls charge these days. I am amazed at how many store fronts are vacant when I go in there.
We have two large malls in our area. They were both busy as heck this holiday season, but for the rest of the year, they see relatively few people.
Also, there are fewer and fewer tenants who can afford the outragious rent the malls charge these days. I am amazed at how many store fronts are vacant when I go in there.
Sorry. Must have burped when I clicked the post button.
Malls are declining because _many_ Americans are too fat or lazy to walk from store to store.
The price of gas may have something to do with it as well.
Maybe it’s just that people already have all the “toys” they need. I mean how many more TVs and video games do people need to buy>
I kind of like zombie movies. They remind me of when Congress is in session... or of a Democrat National Convention.
I’m currently developing a large-button TV remote, for those whose fingers are too fat to change the channel.
I predict brisk sales.
Not only that, but the mall near me is nothing but a “hang out” for thugs and lowlifes who come to pilfer and eat at the food court. If I have to shop, I like to go to strip centers. Large department stores are becoming a thing of the past.
I hate to go to the mall because I am constantly getting shoved and acosted by people who want me to “sample this great new lotion.”
Service is actually a pretty cool economy, but it does fall prey to negative feedback effects.
So long as service people want to work, you can grow your economy without end simply by having more people work, or work more hours
Other than the friction of taxes, we can just keep doing more and more for each other, exchanging money round and round. Give me a dollar, and I can generate a thousand dollars worth of income for a thousand people.
Every time you make something, you take some of the money out of the flow and embed it in some tangible item, which means it can’t be spent again.
I don’t disagree with you — a manufacturing economy is much more stable, since if you convince people to stop spending money in a service economy, suddenly everybody is sitting in their living rooms wondering what to do.
But since all the goods are being made in foreign countries, and most of the service work is done by americans living in america, at least our services are “buy american”.
You must work there (Wally World)
I think it's primarily computer shopping that is killing malls. Malls (and big box stores) are good for browsing, but if you know exactly what you want, comparison shopping online is the way to go IMO.
They won’t be missing my business, I already avoid malls like the plague.
The problem is that unless builders are "building" they are NOT working, so they keep right on developing. There are so many office building complexes in the Royersford - Pottstown - Valley Forge area that are vacant it is scary.
Anything around a Wegman’s is a good chance for success. 3 Wegmen’s up here and they are always busy.
Seriously. Where do these people live that gangs are a problem in their malls? I do most of my shopping at the Pentagon City Mall- no gangs there.
Not the America I know.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.