For many Americans, shopping malls are more than just a place to find goods and services. Malls are where both adults and teens gather to socialize with their friends. However, hundreds of malls across the country have been turned into ghost towns due to the recession, according to the Wall Street Journal (WSJ). "This time around, because of the dramatic changes in consumer spending practices, we're very likely to see more malls in the death spiral than we've ever seen before," says Green Street analyst Jim Sullivan to WSJ.—QS
Are malls becoming a ghost town in your city?