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Dead Malls And The Dying Middle Class

High-end enclosed retail spaces, like the Short Hills Mall in New Jersey, are doing just fine, thank you. However, like Sears, Kmart and J.C. Penney, which used to anchor them, the middle-class shopping leviathans are beached. Since 2010, more than two dozen enclosed shopping malls have been closed, and an additional 60 are nearing death, according to Green Street Advisors. “It is very much a haves and have-nots situation,” said D. J. Busch, a senior analyst at Green Street. 

Read the whole story at The New York Times »

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