Excellent reddit post 👇
https://twitter.com/stianwestlake/status/1453413699671273478
(TL;DR The answer is debt agreements + the fact that a commercial property’s value is a function of its rent. With so much on the line, Landlords prefer to “pray and delay” rather than accept a drop in value.)
(The obvious problem being that if all the shops on a street do this, it even further amplifies the decline of the neighbourhood 🔁) #tragedyofthecommons
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