Urban Real Estates

The declaration of the US’s biggest mall operator that is was declaring bankruptcy and is closing their doors to several hundred malls has taken everybody by surprise. This is the latest blow the economy has taken due to a worsening consumer spending index that has left most malls high and dry of customers as they strive to keep cash they get. Malls are a symbol of the retail industry and is considered to be one of the best real estate uses for commercial applications. The collapse of such industries is a big blow to the retail industry and new developments as a whole as we all stand, stunned along with all the experts who have been trying to get the facts since the decision by the property owners was made.
The UK and the US both have a retail industry that is faltering, as people tends to spend less in such economic conditions today. The UK on the other hand may be in deeper trouble that the US as their malls get smaller business and the economy is just as in the red as the US. More issues in following posts, as we try to recover from this global recession that has so crippled economies and lives across the world.