What Small Shops have Closed near you

For the moment, most things seem to be hanging on here. The restaurants/businesses that are closing, and some of them have been long-time institutions are mostly downtown establishments. The ones that are closing in this area are the ones that were just trying to open and get established when the whole mess hit. It seems to me that if you had an established clientele, then you are mostly hanging on for the moment. It would, of course, help if things would ease up and they'd stop scaring the bejesus out of everyone.

The group at my aerobics class has been there pretty solid now through 3 sessions, and the ones showing up for classes in the evening are the same way. There are some new faces rotating in here and there so people are coming in, but the numbers are down over what they were before it all started. It has be a business hit all across the board for everyone, but hopefully if we can avoid a new lock down, things will make it through for the most part.

But ... we aren't having a second round of lock downs ... yet.

In Minneapolis and St. Paul there have been many (non-chain)very popular restaurants/bars that have permanently closed their doors and many others they have closed for the winter or drastically cut business offerings.

There are many that are hanging by a thread not only from COVID but from areas being “unsafe” and people not willing to go there even when restrictions were lifted. My daughters boyfriend works in a restaurant while going to school. It is a small business that is pretty popular and they have laid off much of the staff to try and survive. They do carry out but much of their business was sitdown. I wouldn’t imagine them lasting much longer if restrictions continue.

The next one to go will be fitness centers etc. there is no way they can handle the overhead and utilities for any extended time without money coming in. It is a sad situation

originally posted by: Edumakated

Suburban residential real estate is booming. Low mortgage rates and people running from cities. City condo market is teetering and will probably collapse imho. Commercial landlords are hurting.

Back to the conspiratorial side of things...that's one thing I mentioned months ago when all of this started and the riots were happening etc.

Somebody, somewhere is going to make a fortune on real estate in what was previously very high-demand areas

a reply to: TXRabbit

Maybe. They have to convince people they want to come back first. How long did it take that to happen in Detroit? *Has* it happened yet in Detroit?

I know of at least a half dozen places that closed down. I doubt if most of them will reopen. The ones that stayed open got government loans and they will be suffering for that for years to come. Some restaurants are doing just takeout but they are barely paying the bills, another six months and the owners will give up. All the small businesses here are not doing well, including some of the big department stores. At least they do not have to pay for extra help during the Christmas season, everyone seems to have shopped online....another bad future forecast for our Walmart and Target stores. I do not know how long those big chain stores will keep the local stores open here, they will not be huge employers anymore though. Once people get used to ordering online, they will continue. I am not going to start ordering stuff online, I will keep buying locally until there is no place to buy from. After that, so many people will be out of work, having new stuff around the house will just attract those people without jobs anymore that need to steal for a living.

a reply to: ketsuko

Not very familiar with Detroit but it has gotten better over the last decade or so, hasn't it?

One example I used previously was Harlem. Notorious for crime and violence and poverty was transformed into hipster central after some investors (nameless) started buying property and investing in the area - something the prior residential culture refused to do

a reply to: TXRabbit

Some of these large cities have a huge image revamp to undergo before things are going to turn around and that's before we discuss the tax situation.

originally posted by: TXRabbit
a reply to: ketsuko

Not very familiar with Detroit but it has gotten better over the last decade or so, hasn't it?

One example I used previously was Harlem. Notorious for crime and violence and poverty was transformed into hipster central after some investors (nameless) started buying property and investing in the area - something the prior residential culture refused to do

Harlem and Brooklyn gentrified because Manhattan proper got so expensive so people were looking for cheaper places to live. Over time, the cheap places become popular and no longer considered "cheap" or a fringe area.

Detroit still has a long way to go. They fell so far, I don't know if it will ever turn around... at least not for a long time.

I wish Trump would have had a more targeted plan to move manufacturing back to some select areas in the rust belt. The way to bring some of these cities back is incentives to reduce tax burden by locating plants in these areas. Reduce corporate tax rate to like 5% if a major plant is relocated to Detroit.

originally posted by: ketsuko
a reply to: TXRabbit

Some of these large cities have a huge image revamp to undergo before things are going to turn around and that's before we discuss the tax situation.

Oh, totally. Worthy of it's own thread

originally posted by: Edumakated

Harlem and Brooklyn gentrified because Manhattan proper got so expensive so people were looking for cheaper places to live. Over time, the cheap places become popular and no longer considered "cheap" or a fringe area.

Detroit still has a long way to go. They fell so far, I don't know if it will ever turn around... at least not for a long time.

I wish Trump would have had a more targeted plan to move manufacturing back to some select areas in the rust belt. The way to bring some of these cities back is incentives to reduce tax burden by locating plants in these areas. Reduce corporate tax rate to like 5% if a major plant is relocated to Detroit.

Taxes are definitely part of the equation but let's also not forget things like Unions, infrastructure, education-level as well as access to resources for families.

Hasn't Pittsburgh rebounded somewhat after industry trends moved away from steel and more towards banking? (pulling at straws here guys...I haven't researched). What about parts of Ohio? Cinn/Cleveland?

a reply to: TKDRL

This business owner speaks for Millions!

mobile.twitter.com...

originally posted by: TXRabbit

originally posted by: Edumakated

Harlem and Brooklyn gentrified because Manhattan proper got so expensive so people were looking for cheaper places to live. Over time, the cheap places become popular and no longer considered "cheap" or a fringe area.

Detroit still has a long way to go. They fell so far, I don't know if it will ever turn around... at least not for a long time.

I wish Trump would have had a more targeted plan to move manufacturing back to some select areas in the rust belt. The way to bring some of these cities back is incentives to reduce tax burden by locating plants in these areas. Reduce corporate tax rate to like 5% if a major plant is relocated to Detroit.

Taxes are definitely part of the equation but let's also not forget things like Unions, infrastructure, education-level as well as access to resources for families.

Hasn't Pittsburgh rebounded somewhat after industry trends moved away from steel and more towards banking? (pulling at straws here guys...I haven't researched). What about parts of Ohio? Cinn/Cleveland?

Yeah, Pittsburgh is quite nice now from what I've heard. Cincy and Cleveland have had a bit of a renaissance.

Major employers and schools is often the catalyst.

a reply to: Edumakated

Yeah, definitely risky though. Wife and I keep debating if we think cities will be ok. I don't think cities will recover quickly. She thinks they will. She thinks all the people fleeing will realize the suburbs / rural areas are boring. I think they will discover that suburbs/rural areas can be just as nice in a different way.

There are country mice, and city mice, very rarely are they interchangeable.
Dense suburbs might satiate city folks though.
I can see a trend away from cities for a short time (2-5 yrs) and then they will be right back if not more
populated than before.

originally posted by: TXRabbit

originally posted by: Edumakated

Suburban residential real estate is booming. Low mortgage rates and people running from cities. City condo market is teetering and will probably collapse imho. Commercial landlords are hurting.

Back to the conspiratorial side of things...that's one thing I mentioned months ago when all of this started and the riots were happening etc.

Somebody, somewhere is going to make a fortune on real estate in what was previously very high-demand areas

Exactly! This is a scam beyond all proportions.

Almost all of downtown Portland is boarded up and closed. You know — the heart and culture (cancel culture now) of the entire metropolitan area.

I’m sensing a resurgence in these dem downtown areas coming soon.

A power grab, for what WAS for over a century — incredibly valuable real estate. Now, worth virtually nothing.

I was a Realtor in Oregon for 10 years.