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In the 1980's people wrote about malls as cultural centers, as temples to shopping. Now, they're dying.
Many observers are speculating about the growing trend of so-called dead malls: once-flourishing, large retail spaces that now have a high vacancy rate, low numbers of pedestrian traffic, or the lack of an "anchor" store (typically a department chain). Is it because of economic recession, or stagnant middle-class wages and growing income inequality? Or has the death of these malls been hastened by the rapid growth of online shopping?
It's difficult to say, but the dead mall phenomenon is becoming a cultural item of interest -- for retail historians, urban explorers and documentarians alike. We may read about dead malls in The New York Times or The Atlantic, but film footage can say much more than words.
Is Amazon to blame?
(Score: 2) by VLM on Tuesday April 25 2017, @09:00PM
so the only reason you'd want to give up on them is because they're incompetent.
Yeah that was kinda my last paragraph.
Note that real estate is interchangeable cog as is property managers, and about half the property managers out there are below the median in performance, so maybe we only hear about the bad half where the bank pulls the trigger and not the other half.
Also if the property can be turned around, its not even a median / on average thing, if the bank can find a prop mgr who can sweet talk them into pulling the trigger so they can take over...