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Wednesday, January 07, 2015
Why Are There So Many Dead Malls? The Middle Class Is Dying, Too
Dead malls are in the news often lately, whether they’ve become self-aware, are being reduced to rubble, or are being turned into condos or houses of worship. Even teens don’t want to hang out there anymore. Why is it, though, that malls that once clothed and entertained the middle class are dying out? What, if anything, will take their place?
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9 comments:
An interesting topic, however the conclusion is flawed. Although high end malls are indeed thriving because they serve the high income, recession proof buyer, this does not indicate the middle class is dead. They are still here. Instead of going to the mall, they now have opted for big box stores like Walmart and Target. Of course internet sales have increased significantly and much of the money that once went to the mall is now going there. Even with the death of malls, business will and is finding away to adapt. new structures will appear, most commonly retail and residential combinations.
I think people like to shop online and at more boutique, smaller stores. People are always in a hurry, so strip malls are easier to get in and out of too.
When shopping in a mall, you are restricted to the styles, sizes and colors they have in stock. On the internet, you have so many more options to choose from. Also, the teenagers now don't care about face to face contact, only texting, so they don't have to socialize at the mall like we used to do.
The rent is too damn high. Brick and mortars can't compete with online retailers when they have an obscene rent to pay as overhead.
Malls were overbuilt,as in too many were built.Common sense did not take the flash in the pan factor into consideration while the non stop mall building of the 60's 70s and 80's was at full tilt. Average people like myself realized the limited lifespan of those monstrocities,but the financial wizards failed to see it.
I prefer catalogs, internet and boutique stores and strip malls. Much easier to shop and a lot more choices...also love locally made goods and of course the farmer's markets.
1:23-I feel the same about locally made goods but have a hard time finding them.
Before Christmas I went to a large Mall outside of Baltimore and when it came time to eat lunch I left and came back later. Why??? Because you are a sitting duck in a food court. It only takes one idiot with an ax to grind to wipe out half of a food court. Fights are common place and violence is encouraged. It is happening all over the country. Big open spaces are no longer appealing to me.
I went to the Centre two nights in a row. The place was deserted both nights. Gonna be hard to collect that high rent when stores close up and leave.
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