All over North America, speculators are raising rents and pushing out tenants. Will our cities ever be the same? https://thewalrus.ca/how-empty-storefronts-are-killing-our-neighbourhoods/ Here are some great videos on NYC urban decay from Louis Rossmann:
Didn't pass the walk down of vacant businesses, so my point may have been addressed later in the video... Often, when entire blocks are closing down is a sign of concerted effort by developers/bankers/politicians to redevelop a neighborhood without input from the hood, to avoid never ending "whaddabout me" meetings and lawsuits. Generally can take several years before enough tenants leave, business and dwellers, to make a big move without being blocked. It's the double edge of rent control which freezes a hood in a time capsule in which property owners receive diminished returns on their investments and renters receive rent protection in a slowly decaying neighborhood. The alternative is no rent control free market, which I favor, although that's also far from perfect and doesn't prevent cycles of renewal. I think the US has generally failed at developing healthy urban environments, favoring suburban living instead, at least until about 20 years ago when the new generations started rejecting suburban life for urban dynamics. European cities are a breath of fresh air and proof that urbanization works when done thoughtfully.
Depends on how you deal with the vacancy. Vacancy doesn't have to result into ugly neighbourhoods. If the property is not attracting any renters or buyers, why not demolish it, plant some trees and turn it into green space? You know giving back to nature? Or turn it into a recreation and sports centre to keep youth off the street to participate in positive activities or better yet, turn it into vocational centres so people can learn something useful. Lots of ways to make use of vacant properties if people just put their mind into it.
Vacancy doesn't mean the property aren't owned. Who will buy the properties out, the government? This is America...
%% Ever the same?? Most likely not on the high tax locations , some movie houses or 8 track stores.........................................
%% I thinks that works well; especially with property that tends not to sell@ tax auctions\to much supply\overpriced maintance fees or to much socialism like Detroit..............................................................
Yup, that's called dictatorship, communist or fascist doesn't matter, it's government control over.private property.