Loading ...Store rents had already plunged, amid a surge in vacancies. Then in the spring, the market froze; when it thawed, rents dropped to 10-year lows.
Initial Jobless Claims Soars To Highest Since August Amid Illinois Chaos
965k Americans filed for first time jobless claims in the first week of 2021 – a massive jump from last week’s 784k and well above expectations of a 789k rise…
Stunning Brick & Mortar Meltdown, Manhattan Style: The Collapse of Retail Rents Before & Now During the Pandemic
After 17 Years of Falling Ticket Sales, Movie Theaters Got Annihilated in 2020
by Wolf Richter • Jan 10, 2021 • 208 Comments
Americans are watching more movies than ever, but they’re watching at home. The studios are on board in a big way.
“Keeping a Business Alive that’s Generating No Revenues is an Uphill Struggle”: Friend and Hostel Owner in Barcelona. An Industry Collapses
by Nick Corbishley • Jan 9, 2021 • 167 Comments
Bankruptcies, glut of hotels for sale, few buyers, prices plunge. Nobu, de Niro, and Teper take big loss on sale of luxury hotel Nobu Barcelona that was open for only six months.
Update on the WTF Collapse of Gasoline & Jet Fuel Consumption: The Holiday Period
by Wolf Richter • Jan 8, 2021 • 120 Comments
Long-term structural issues have long dogged these fuels. Then came the Pandemic.
Having Already Dropped for Years, US Auto Sales Plunged to 1970s Level in 2020
by Wolf Richter • Jan 7, 2021 • 218 Comments
GM, Toyota, Ford sales down 5th year in a row. Nissan in a death spiral. The Pandemic accelerated what had started in 2016. Long-term view on auto sales.