An American Dream Lost
It's an American Dream lost. There re vacant storefronts all across Main Street America.,
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142
Kaju,
This is such a sad state of affairs. I really hope this bill gets passed since this is happening all over, not just in NYC.
Indeed Lynn, beyond sad. It is the co;;apse of the American Dream. For those who believe in it, we must continue to fight to get bills like the SBJSA passed.
Thanks so much for your insight.
Good afternoon Kaju.
It is sad that those cozy mom and pop stores have nearly all disappeared. Here in the south of Spain, I have seen the same thing happening in Malaga. I have been on the Costa del Sol since 1976 and the flavor of visiting the beautiful center of this town is quite different from years ago.
Greetings from the south of Spain, Taetske
Great information on Malaga, Taetske. This is the first we have heard of this, Thank You.
This price gouge is apparently happening all over the world in major cities, and gentrification has become a global problem.
What ashame the former historic character and flavor of the beautiful center of this town has been lost, like so many others including Greenwich Village in NYC.
That is why bills like the SBJSA are so important to get passed.
The people who come to Malaga for the first time will still find many beautiful things to see and will probably be quite charmed by the total.
Having been here so many years I can compare the city to how it was 30 years ago. I have seen those picturesque shops disappear over time. Famous brands have taken their place and it certainly does not look nicer.
Greetings from the south of Spain, Taetske
Great post, Kaju. The same exact thing is happening in Hong Kong which is the most expensive place in the world for both commercial and residential real estate and rents. I see businesses going out of business all the time here because the landlords have jacked up the rent. My company has been in the same building and a tenant for 14 years. Last year they raised the rent 35%!
It's all about greed, for sure. Thanks for the great information.
Wayne
Very illuminating Wayne, thanks so much for sharing this information about Hong Kong.
A raise of 35% in rent is certainly egregious price gouging, but imagine being the small commercial business tenant in Vancouver, BC who had his property taxes raised $150K in one year.
It is definitely all greed and the only way it can be stopped is through legislation. And that takes a legion of coalitions of like-minded and vigilant advocates to fight the "City Halls" of major cities all around the world.
Kaju
Here's is the most disturbing fact: the Top 84 Richest people in the World, make more money $$ than the remaining 6 billion people in the world.
We are standing on the precipice of a repeat of history, like the once indomitable but Mighty Fallen Roman Empire. There is a form of slavery that is repeating itself in our modern world, except it is debt slavery.
I could not agree more, Kaju. Besides the $$ disparity I am also concerned about how much our technology giants like Google, Amazon, etc. are controlling so much of our information.
Wayne
Great post I am not sure how it is now in my country as I am not living there for many years but in the past a commercial property would always rental for at least 5 years. If 1 year nobody wants to invest in a business property.
Have a great day
Tommy
Thank You Tommy, yes unfortunately the 1-year lease has become a norm, and commercial tenants have no recourse but to take them. That's why this SBJSA bill needs to get passed, as it will guarantee them a 10-year lease.
Absolutely amazing post.
The core of this is the entrepreneurial spirit of the American Dream and in fact the dream of every small business owner globally who works hard every day.
We hope with all our hearts that this bill gets passed.
C & P
Thank You so much my dear friends C&P for your thoughtful comments here, what an abomination of the American Dream that the entrepreneurial spirit of the small mom and pop business owner is being destroyed around the world by what so many see as the evil real estate empire.
In NYC, that empire is REBNY. However, there are "REBNY's" in all major cities across the globe, and many see the collusion between the real estate industries and local governments to impose power over commercial tenants as as a form of debt slavery.
The fortunes of small business owners and the conditions to help them succeed have always been the foundation of what countries around the globe who believe in a free marketplace countries have been built upon.
Let's hope this bill gets passed to protect the backs of the small commercial tenants, otherwise our American dream (and World Dream) is lost.
Super post,Kaju, on what I think holds strong insights on illuminating a insidious thirst for greed, where it leads in terms of not only the American dream, but also the horrors we are are spiraling to.
If we embrace the concept of togetherness and thoughtful unity, in family and community ”Everyday” as we do when experiencing a natural disaster....imagine
What I love most about this topic,and it’s underlying effort...How it brings the to very center of attention the small individual contribution of the common man. These are the millions upon millions who by their dream weave strength into the fabric, indeed the very reason we choose to live together.
May we all be blessed in our mindful generous approach in honoring your enterprise.
Shine Brilliant
David R.
This country has always been built on the millions of small individual contributions by the common man, as you so wisely state David, this is the core fabric that we as a great society have woven.
Yes, if only we all can come together and embrace this concept of togetherness "everyday" as if we are all experiencing a natural disaster - which would be in order as in essence what this truly is, is a national disaster - then our American Dream would remain intact.
Thank You for your thought-provoking comment illuminating a insidious thirst for greed.
Kaju
And just adding thought to the American Dream we pursue in small business and that relationship we share with others
America has always championed the individual pursuit of excellence and opportunity as we should in fact continue doing.
Free enterprise operating at its best however considers balance of economy avoiding swings from recession to depression
If how much we consider charging others for our goods and services were evaluated like taking a trip to an all-you-can-eat buffet...the question becomes not “how much we can” ,but how much we really should before it becomes detrimental to our well being.
Price gouging is a total disrespect for balance and a gluttony not to be tolerated if we are to survive
Go (SBJSA)
Most people do not realize how bad our current situation is, David.
Here's is the most disturbing fact: the Top 84 Richest people in the World, make more money $$ than the remaining 6 billion people in the world.
We are standing on the precipice of a repeat of history, like the once indomitable but Mighty Fallen Roman Empire. There is a form of slavery that is repeating itself in our modern world, except it is debt slavery.
This is a modern version of serfdom in which the real estate industry in cahoots with the local governments (the oppressors) have enslaved the small commercial real state tenants, to where they have seized total control over their fate.
Unless a radical change in legislation gets passed that will provide real protection for small commercial tenants (like this SBJSA Bill being presented in hearings) or a highly effective major boycott takes place, free marketplaces are headed for a precipitous fall.
WE as a free society are currently at a crossroads. Free marketplaces in major cites around the world are on the verge of falling like the once Mighty Roman Empire.
All throughout the world small business people are being slowly buried by these companies converting agricultural lands into commercial centers, subdivisions, and industrial centers.
What arguments do landlords/property owners make in opposition? I like to hear both sides of an issue.
Let's see if we get any comments here from the other side Glen. I would love to hear it too.
Don't the landlords understand that if they overprice their space, tenants leave and it becomes hard to fill? I can't believe businesses will pay any price just to stay in business. It's a long-term losing proposition.
Very true, and its never been a more "losing proposition" to own a storefront than in these times.
Most of the commercial landlords only give 1 year leases, which is absurd. Unless this bill passes, there will be zero favorable outcomes for such commercial tenants when their leases are up for renewal.
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I just had to close my own mom & pop shop in January, not directly due to this, but the second brick and mortar business I helped to found, will now be going out of business within the year, largely because of this price increase in rent. So this hits close to home.
I'm very sorry to hear this Jerilyn. This is all due to the gaudy rent hikes by commercial landlords that has been happening for over 20 years due to the deregulation in the real estate industry.
As small commercial "mom and pop" tenants, our only hope is to fight the evil real estate industry through passage of legislation such as the SBJSA, its a hard and long fight but it CAN be won.