Yep. I was making my comment because it relates to things I heard in my town. Basically, there are many young people willing to open restaurants, shops, bars etc. but the landlords own most of the city center. Given the rent, many young starters just can't start. So the city center is closing more and more shops, slowly asphyxiating. So I guess the landlords will reduce their prices when nobody will rent anymore. One could say that it's a basic offer/demand situation looking for an equilibrium. But it's not because everybody in town pay the price of this missing equilibrium.
So the landlords, while protecting their assets, make life hard for starters, slowly kills the city center. So I wouldn't call that a successful "invisible hand".
The landlord's positions are probably because restaurants and bars have to make a lot of changes to existing facilities, and also generally go under fairly quickly.
That can leave you with a large bill to retool your location to a more neutral design.
Also, side note, lots of young people think starting a restaurant or bar is easy. It isn't. (Fyi 17 years experience). It's brutal, difficult and requires a lot of control/micromanagement. It's not something you can do when just out of school.
>>> That can leave you with a large bill to retool your location to a more neutral design.
make sense.
>>> Also, side note, lots of young people think starting a restaurant or bar is easy.
Yeah, I sure don't think that. I always wonder how the chef make it : prepare dishes for noon and evening easily consume eight hours. Then you have to check your suppliers, the accountant, brief the employees, make sure the restaurant is clean, handle bookings, handle taxes,... Or you have to hire a partner but then you'll have to share the benefits/losses which may add another level of stress.
But cooking under stress, damn, it's not like coding :-)
