True, to an extent. But the price of a pound of hamburger at the grocery store has gone up relatively equal to inflation.
In a lot of places, minimum wage has raise 3x to when it originally was. But theyâre paying this wage bumps off and just a handful of sales.
Commercial real estate is probably up about 3x from where it was when we were eating $4.75 bodacious bacon cheeseburgers from Roy Rogers
I think, pretty much, weâre looking at disproportionately high real estate costs and greed.
Donât neglect the fact that commercial real estate owners will arbitrarily jack rent 3x year over year. Itâs basically the reason that established restaurants go out of business. Almost every restaurant that is over 20 years old owns their building.
Yeah, itâs turtles greed all-the-way down.
The commercial real estate market, of all things, should be able to self-regulate. A property sitting empty is losing them tax money, get too many shuttered businesses together and the property value drops.
Few things market-correct in these late-day capitalism hellscapes, but commercial property either corrects or gets bulldozed and bought by someone who corrects (and maybe rezones) it. Sometimes it just takes a decade or so.
