• 3 Posts
  • 667 Comments
Joined 1 year ago
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Cake day: June 16th, 2023

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    1. Land is scarce where people want to live, it’s always going to get more expensive as more people want to live there.
    2. Low interest rates caused large investment firms to seek higher rates by being rental owners instead of mortgage owners. This forced up rent to make returns on investment. As the realities of being a landlord are realized this might get better.
    3. New building nationally wasn’t keeping pace pre covid, but it was by a negligible amount. Post covid, new building is years behind where it needs to be.
    4. High interest rates now has effectively got people stuck in existing homes, because a new mortgage would be double the payment.
    5. Inflation happened, 20% of the increase since 2020 is just inflation.
    6. Short term rentals have devasted the residential market in popular tourist areas, forcing them to charge hotel taxes and follow those regulations is hopefully going to start correcting this.






  • Most of the failure seems to be having a massive menu that forces over use of frozen foods and massive food waste. Combined with management having no standards, so mediocre food gets worse and service becomes awful, which drives away customers.

    Most every rescue is giving them a menu of 5-10 items and establishing basic standards. If kitchen nightmares chose restaurants that weren’t already completely out of runway they would be far more successful. There were way to many places that didn’t have the money to operate for 6 months to even have a chance of turning around.