They could try *gasp* lowering prices to meet supply and demand like the rest of us.
But nooooo.... landlords operate in their own reality where they can afford to post losses for years to keep the price tag high.
@NPR@press.coop
@LouisIngenthron the value of the asset is calculated by some multiple of the annual rent (usually 10-12 depending on some other factors). That valuation is used to finance the purchase. If you lower the rent for a commercial property, you lock in a lower value for the next 5-10 years of a standard commercial lease. Then your asset is under water, risks insolvency, and will be unprofitable to sell.
@AustinB Good. They made a bad investment, they should pay the consequences, like every other non-real-estate investment. It's crazy that someone can put down 10% of the purchase price and then expect to profit forever.
That the system makes an empty revenue-less property more potentially profitable than one that is occupied with a rent-paying tenant is a sign that the system is terribly broken.
And landlords have been taking advantage of broken systems to screw little people for all of human history, so I have zero sympathy for their woes.
