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Old 08-27-2014, 07:47 AM
 
1,013 posts, read 750,988 times
Reputation: 483

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Quote:
Originally Posted by tickyul View Post
The answer, they will just keep building them.....no matter what.

New home sales are making a big surge. Let's see, stagnant wages.....yet people are still buying bloated, bubble-priced new homes, YIKES.

Same thing with businesses........shell out money for expansion, no matter if people are broke. Wow, home many drugstores and fast food places can they cram into the USA???
not the young people...
its the speculators on wall street and the rich old people are getting taking for a ride AGAIN to speculate with.

always keeping the young worker generation down apparently.
most are smarter now.

but some are getting sucked back in
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Old 08-29-2014, 06:17 AM
 
Location: Waterworld
1,027 posts, read 1,192,227 times
Reputation: 934
I think most every city, even cities that have more than rebounded since 2008 such as Houston have empty retail buildings.

They just built SO many it seems that it is almost impossible to fill them all and it is a blight on the visual environment in my opinion. Speculation construction is the biggest culprit.
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Old 08-29-2014, 07:06 AM
 
1,013 posts, read 750,988 times
Reputation: 483
Quote:
Originally Posted by jeremy2788 View Post
I think most every city, even cities that have more than rebounded since 2008 such as Houston have empty retail buildings.

They just built SO many it seems that it is almost impossible to fill them all and it is a blight on the visual environment in my opinion. Speculation construction is the biggest culprit.
if we can only turn those worthless commercial real estates into actual livable units it would be great success in our economy.
but they want to keep prices up. so that would never happen

the most crowded cities have so many vacant commercial real estate? and they still keep prices of them sky high so people cannot open businesses easily...
my bet is they charge at least 5000 to 10000 even though they are vacant they would rather eat the cost than lower the prices.

perhaps we need to tax them more for each vacant lot like I suggested so many times.

vacant lots are an eye sore, fire and criminal hazard. thus increasing costs to our environment.
the rich people holding those properties need to be fined for keeping them empty, thus endangering everyone around the property.
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Old 08-29-2014, 02:17 PM
 
Location: The Cathedral
208 posts, read 174,570 times
Reputation: 169
Quote:
Originally Posted by gen811 View Post
the rich people holding those properties need to be fined for keeping them empty, thus endangering everyone around the property.
How are these not simply honest capitalists doing what the free market is telling them to do?
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Old 08-29-2014, 02:24 PM
 
Location: Des Moines Metro
5,011 posts, read 5,630,408 times
Reputation: 9314
In Ohio, some of the buildings in vacant strip malls were open to Saturday flea markets and Sunday church services. Northland Mall in Columbus was partly razed. What was left became government (Welfare to work division? I don't remember) and a small urban park.

In Des Moines, one of the old buildings has a food pantry and a "free" store (clothing and baby things) on Saturdays. There aren't as many abandoned buildings here as there are in Columbus, OH.
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Old 08-29-2014, 07:16 PM
 
Location: Western North Carolina
4,800 posts, read 7,649,160 times
Reputation: 9986
In our town, the Lowes, the Wal-mart, the Taco Bell, a Mcdonalds, and a Bojangles, and several grocery chains have all built newer buidings and left the old ones to sit and rot and become blights in the town. I think it is a travesty and should not be allowed. At least the Burger King tore down it's old building and put up a new on on the same site. These corporations should be made to remove their old buildings, clean up the site and plant grass, trees, etc.
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Old 08-30-2014, 01:29 PM
 
8,613 posts, read 7,605,712 times
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The majority of those old buildings are not owned by the corporations that were located in them. They are leased buildings. They move out of the buildings for a few reasons.

1: The neighborhood runs down, and the volume of business goes down making the business a money looser, so merchants are pulling out of the buildings as their leases run out.

2: A building, after a period of time has to be rehabbed and as it ages businesses move to a new building in great shape. It depends on many factors, if the building will be leased by other smaller merchants, etc. If the location is the best available a business will tear down the old and put up a new one as RogueMom mentioned above.

3: A lot of big box stores are moving from their old very large facility to newer, smaller facilities, as their Internet site is replacing a lot of their sales. The company actually does a lot more total business in a particular area, but the sales go down at their store. They are reducing the size of the stores, and moving more and more to the Internet. In fact there are some old time businesses in the U.S. that have replaced their stores completely with their web site, and may be doing 2 to 3 times their old volume, and with eliminating the store their profits go through the roof.
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Old 01-11-2019, 08:13 AM
 
Location: Central CT, sometimes NH.
3,272 posts, read 4,967,659 times
Reputation: 3058
This is my old thread. I continue to drive around and despite an economic improvement there are even more vacant offices, retail space and commercial properties. On-line retail, a greater number of people working from home, and the move away from shopping malls has resulted in a glut of underutilized properties. Development that is taking place is mostly ground up development of new building taking advantage of incentives. Municipalities need to work with property owners to find ways to improve the use of existing properties especially ones that are brownfield sites. These properties sit on the tax roles but their values continue to diminish as sources of revenue and when the burden becomes too great to carry them the owners often walk away.
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Old 01-11-2019, 10:37 AM
 
805 posts, read 230,258 times
Reputation: 1953
Quote:
Originally Posted by RogueMom View Post
In our town, the Lowes, the Wal-mart, the Taco Bell, a Mcdonalds, and a Bojangles, and several grocery chains have all built newer buildings and left the old ones to sit and rot and become blights in the town. I think it is a travesty and should not be allowed.
I agree. In my area, there are a lot of tax incentives to build in another area- typically they add another 1/4% onto the local sales tax and give it to the retailer. So, they just leave the old building behind. One grocery store- large, well-respected local chain- wanted the municipality to agree to an extra sales tax that could be used to upgrade their building. The municipality said they did that for exterior improvements only, not interior. The chain just closed down the store because it didn't get what it wanted. That was at least 3 years ago and it's still vacant.
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Old 01-11-2019, 04:55 PM
 
1,178 posts, read 611,755 times
Reputation: 324
Quote:
Originally Posted by athena53 View Post
I agree. In my area, there are a lot of tax incentives to build in another area- typically they add another 1/4% onto the local sales tax and give it to the retailer. So, they just leave the old building behind. One grocery store- large, well-respected local chain- wanted the municipality to agree to an extra sales tax that could be used to upgrade their building. The municipality said they did that for exterior improvements only, not interior. The chain just closed down the store because it didn't get what it wanted. That was at least 3 years ago and it's still vacant.
Atthena53, why do they need to reward someone for leving the old building behind? Doesn't it cost money to demolish a building?

Regarding government subsidy of commercial ventures: One or more of the jurisdictional governments within my county, (I'm supposing it's all of them), have reduced sales taxes within a particular area to encourage retail commerce in a particular area. It's a deep reduction of approximately half of the approximate 8% normal sales tax. I would suppose that displeases retailers and landlords in other areas.

Governments throughout our nation have subsidized parking and other upgrading of area's public spaces and utilities within otherwise poorer commercial zones. They have impaired their credit by additional borrowing for such purposes and risked the borrowed funds to provide or back loans for commercial ventures within the selected zones.

Such addition government expenses crowd out governments funds available for schools and other needs of the remaining area's within those governments' jurisdictions. Those are risky moves that may or may not succeed.

I'm unaware of any government directly and indirectly recovering what they spent to attract or retain a professional sports team. Our voters' support their children's training and education, but they have lesser regard for their children and more regard for their sports teams and stadiums.
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