dagblog - Comments for "The next big problem for the economy: Businesses can’t pay their rent"

"Get ready for a flood of

artappraiser — Thu, 11 Jun 2020 01:36:45 +0000

"Get ready for a flood of evictions. With unemployment at historic highs and moratoriums getting lifted across the United States, tens of thousands of renters are expected to get booted from their homes." https://t.co/mLDcOb23WV via @usatoday
— NLIHC (@NLIHC) June 10, 2020

Starbucks to permanently

artappraiser — Thu, 11 Jun 2020 01:07:10 +0000

In reply to The next big problem for the economy: Businesses can’t pay their rent

Starbucks to permanently close 400 stores in U.S. and Canada; warns of 45% sales drop https://t.co/qgfVbaeB6l
— Edmonton Journal (@edmontonjournal) June 10, 2020

A housing 'apocalypse' is

artappraiser — Wed, 10 Jun 2020 23:00:54 +0000

In reply to The next big problem for the economy: Businesses can’t pay their rent

A housing 'apocalypse' is coming as coronavirus protections across the country expire. https://t.co/EJxjxpmXch
— CNBC Make It (@CNBCMakeIt) June 10, 2020

Important point from Powell.

artappraiser — Wed, 10 Jun 2020 21:46:36 +0000

In reply to The next big problem for the economy: Businesses can’t pay their rent

Important point from Powell. What's true at the micro (that business failure is an important part of capitalism) doesn't apply to the macro (that mass business failure is good for capitalism)
— Joe Weisenthal (@TheStalwart) June 10, 2020

That's the Fed chair he is referring to.

Hard-hit retailers projected

artappraiser — Wed, 10 Jun 2020 08:36:38 +0000

In reply to The next big problem for the economy: Businesses can’t pay their rent

Hard-hit retailers projected to shutter as many as 25,000 stores this year, mostly in malls

An estimated 3 in 5 of those closures will occur in shopping centers, research shows

By Rachel Siegel @ WashingtonPost.com

Consumers may be eager to hit their nearest reopened mall, but it could already be too late for many struggling retailers.

U.S. retailers will shutter 20,000 to 25,000 stores this year, according to projections released Tuesday by Coresight Research, with as much as 60 percent of those closures occurring in malls. That marks a sharp increase from the 15,000 forecast earlier this year and raises the stakes for a sector already in turmoil before the coronavirus pandemic catapulted the country into recession.

“Given that recovery to precrisis levels may be gradual, retailers that were struggling to stay in business precrisis are unlikely to have the wherewithal to stay the course on the road to recovery,” Coresight founder and CEO Deborah Weinswig said in the report [....]