PSPINC CEO Kenichi Uchikura's Blog

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Newsletter Vol. 51

Newsletter Vol. 51

11月

22日

1 tweet

Real Estate Prices

When real estate value goes up, so does the cost of living. I was at a shopping mall today and saw "EVERYTHING MUST GO" signs at the Forever 21 store. Someone told me that my favorite Chinese Restaurant closed because they could not renew their lease.

Rent is getting more and more expensive. The buildings we own used to rent for $18 per square foot per year just a few years ago. Now I was told we could lease the building for almost $30 per square foot per year. It is becoming more and more expensive every year.

When the economy is booming, it will get to the point where only the wealthy can afford regular things. That is when the market must adjust itself for the people and society. I wonder when and why the next market adjustment will take place.

People are now thinking the fall of China may be the big bang.