Retail Real Estate Bubble Turns Manhattan Into A "Shopping Wasteland"

If you want to see the future of storefront retailing, walk nine blocks along Broadway from 57th to 48th Street and count the stores........The total number comes to precisely one — a tiny shop to buy drones.

That’s right: On a nine-block stretch of what’s arguably the world’s most famous avenue, steps south of the bustling Time Warner Center and the planned new Nordstrom department store, lies a shopping wasteland.

 

 

https://www.zerohedge.com/news/2018-04-07/retail-real-estate-bubble-turns-manhattan-shopping-wasteland

David Stockman's Contra Corner is the only place where mainstream delusions and cant about the Warfare State, the Bailout State, Bubble Finance and Beltway Banditry are ripped, refuted and rebuked. Subscribe now to receive David Stockman’s latest posts by email each day as well as his model portfolio, Lee Adler’s Daily Data Dive and David’s personally curated insights and analysis from leading contrarian thinkers.