Quote:
Originally Posted by jtown,man
Yeah, but in the long term won't there still be demand for all those businesses that people go to cities for? People will simply open more restaurants and bars. Hell, have you guys seen the failure rate in that industry in a normal year? It's a wonder anyone ever opens one up in the first place.
|
We’re American cities always full of fantastic restaurants, cool bars, pop-up galleries, food trucks, independent boutiques, etc? At least during the 20th century?
Virtuous cycles can turn into vicious cycles. People have moved to cities for these things, and the influx of people with money has led to more of these things being created. But it could go the other way, too. Lots of bankruptcies and closed businesses, people move away, less demand exists etc.
I think it depends on how long the recovery takes.