Impacts of Vacant Property

Here is an interesting article regarding the hardest hit areas of the country by the current economic crisis.  While the article focuses on housing, the same can be said about commercial vacancies.  A couple of choice quotes:

“Empty housing feeds upon itself.”

“The drop in property values lead to fewer buyers, which lead to more vacancies.”

Just something to think about as we continue to work on our redevelopment efforts.

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