Mall-Building Industry Takes Stock To See How Long Growth Will Last
Mall-Building Industry Takes Stock To See How Long Growth Will Last - From the Wall Street Journal
As the retail real-estate industry launches for its big annual show — the International Council of Shopping Centers convention in Las Vegas week — one question is increasingly being asked in the business: How long will the strong sales and easy money last?
The shopping-center industry outlook remains solid, lenders are funding deals at record prices and retailers are looking to expand, while new construction remains restrained.
But retail real estate and the economy at large have been buoyed over the last several years by consumer spending, thanks to record run-ups in home prices and the home-equity loans used by owners to keep spending. Now those props could be weakening with a slowdown in the housing boom and consumers paying near-record prices to fill their gas tanks.
For the complete article, please follow this link