By consumerist.com October 10, 2007

U.S. strip malls vacancies are up to a 5 1/2 year high of 7.4%, ripples of the sub-prime meltdown. [WSJ]

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Comments

  1. HeyThereKiller says:
    October 10, 2007 at 5:17 pm

    Aw man, this is going to make shopping at Radioshack, Sports Authority, and Gamestop at the same time soooooo much more difficult!

  2. SaveMeJeebus says:
    October 10, 2007 at 5:29 pm

    @HeyThereKiller: and the nail/tanning salon, dry cleaners, pawn shop/payday lender, and crappy pizza joints.

    What’s sad is that they contributed to urban sprawl and are becoming more empty where I live. They will never be torn down and will just be permanent eyesores until the next housing wave tears them down and builds new ones.

  3. liquisoft says:
    October 10, 2007 at 5:50 pm

    Wait, are you implying that the empty spaces in strip malls are only empty because the usual tenants would be subprime lenders?

  4. Jeff_McAwesome says:
    October 10, 2007 at 6:05 pm

    @SaveMeJeebus: I like how you say “they will never be torn down” and in the same sentence say “…until the next housing wave tears them down…”

    You so crazy.

  5. topgun says:
    October 10, 2007 at 6:22 pm

    While I’m not claiming to be smarter in economics than the WSJ, I would have to say that strip mall vacancies have been increasing long before the meltdown. I honestly don’t see where one would have that kind of effect on another. Seems like we should blame global warming, lead paint and bad pot pies on the sub-prime situation. I don’t even know why these adjustable rates have been such an issue. Granted getting ARM is not the wisest financial decision, but banks are willing to help the borrowers with a fixed rate mortgage. The bank looses BIG$$$$ on repo’s.