To James: Grow up and stop being so melodramatic and learn how to interpret the data behind your argument.
I agree with Tazman. You will have some vacant malls, some stores will close down, but people will still shop.
An 8% reduction in consumer spending as a percentage of the US GDP hurts, but it is not a doomsday number.
These malls will eventually be redeveloped. In retail, there has been a significant shift in the last 10-15 years to outdoor, pedestrian friendly shopping and away from the titan malls of the 1980s. These outdoor malls (and there are a few in my area) have done quite well and are not in danger of becoming ghost town.
Ghost Malls: Coming to Your Town [View article]
I agree with Tazman. You will have some vacant malls, some stores will close down, but people will still shop.
An 8% reduction in consumer spending as a percentage of the US GDP hurts, but it is not a doomsday number.
These malls will eventually be redeveloped. In retail, there has been a significant shift in the last 10-15 years to outdoor, pedestrian friendly shopping and away from the titan malls of the 1980s. These outdoor malls (and there are a few in my area) have done quite well and are not in danger of becoming ghost town.