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In the New Year’s News

Last week’s jobs numbers really are more of the same—slow improvement, but not enough to help boost occupancies and increase rents dramatically. Mall vacancies, for example, are still near record highs and office occupancies inch ahead barely—suburban markets remain particularly weak.

By Jonathan D. Miller | Updated on January 10, 2012

 Last week’s jobs numbers really are more of the same—slow improvement, but not enough to help boost occupancies and increase rents dramatically. Mall vacancies, for example, are still near record highs and office occupancies inch ahead barely—suburban markets remain particularly weak.

I told you the Christmas sales results would be fairly mediocre—it’s amazing the hype that goes on around Black Friday, which usually does not pan out. But the internet gains continue to be compelling. The market share for online shopping will keep expanding. It will be interesting to see what happens when state governments finally and inevitably work out a policy with the Feds to tax internet sales. I still say the convenience factor will keep propelling internet advances, but we’ll see.

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