Downtown Real Estate Values Destroyed
What are the long term effects going to be of the arson, looting and vandalism in downtown areas across America? Businesses were already in financial trouble. Now struggling businesses received the final blow. What effect will that have on commercial real estate values? Beautiful cities were trashed and it will take years to rebuild some of them. People feel unsafe and their neighborhood is destroyed.
How do malls and retail recover? How many people will choose to move to suburbs or smaller towns? Rebuilding costs money, so what effect will this have on insurance rates and taxes? What does this all mean for real estate investors as we evaluate risk?