Anybody Wanna Buy a Shopping Mall?
In 2009, the American Mall was dying. In 2010, the American Mall was still dying. In 2011: Hey, how'd you like to buy an American Mall?
The Wall Street Journal reports there are 40(!) shopping malls for sale in America right now. And why wouldn't you buy one? What would a multibillion-dollar mall holding company know that you don't?
Most of the properties on the block are among the lower quality properties owned by the sellers and companies are hoping to sell them at a time that the retail sector is facing changes due to an oversupply of product and competition from Internet shopping.
Pish posh! Hanging out at the mall will never go "out of style," if your now-irrelevant adolescence was any indicator!
Why not buy some empty OTB parlors, while you're at it? Make it a party! On Monday, the economy was collapsing; today, the Dow is near a three-year high. That's resilience!
To the mall, to celebrate!
