Empty Retail – an accurate sign? Or just revolving doors?
The topic comes up often regarding “for rent” signs that seem to frequently pop up in Hoboken and cities across the country.
Sometimes they come in waves, coinciding with larger economic events (depression, recession) as well as technology trends (Amazon vs. Brick & Mortar, etc.) Other times there are no logical explanations.
Hoboken spots are mostly filled – and the city is far away from being blighted like other repressed areas of the world. But it still makes you wonder as sometimes stretches of properties are empty, and is kind of depressing.
(Short-term) Prediction – no blight in sight for Hoboken
Hoboken is still a hot spot in terms of Real Estate. Both commercial and residential. And for every person hurt by the latest economic trends, unable to make ends meet – there is at least one person looking to swoop in, with plenty of cash in reserve.
Whether it’s foreign money or chain stores expanding, we have not run out of people with money to pay market price for properties here in Hoboken.
But this type of trend has never proven to be infinite. Just look at how entire societies collapsed after they had similarly positive times.
Who’s left standing – and who rises afterward is often unknown until the last minute. As things don’t always turn out as you planned.
For now – enjoy the run!
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