Saturday, January 07, 2006

Hold the Mustard, Maybe Forever - New York Times

Hold the Mustard, Maybe Forever - New York Times

article about the famous 2nd avenue deli at tenth street,
rent goes from 24,000/mo to 33,000/mo. NY looks like
it will lose an institution thanks to fairly greedy real estate brokers and owners.

recently in carmel, CA, buisiness are closing right and left that gave the beach community character a decade ago.

speaking with business owners, it seems the money faucet that's been running, for the past few years, which jacked real estate to unreasonable levels, has turned carmel into a 2nd home haven, the middle class moving out due to costs and expenses. More than that, the new owners use Carmel as a vacation home site, so the community is asleep during the week, homes empty, businesses empty. people fly in on the weekend, go to restaurants, don't buy goods at the botiques, and fly out...

a negative economic impact of fabulous wealth, is it causes detriment to local communities, like carmel.

like walmart on the other side, buiness are subjected to evolving conditions, communities, lose their center, when they chase "big bucks".. often much attendent opportunity cost exists.


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