Comments by "XSportSeeker" (@XSpImmaLion) on "Commercial real estate ruled worthless in court after tenant denied ability to open business." video.

  1. Complicated matter... I mostly agree with Rossman, specially regarding his own area. But it's a case per case basis I guess. For instance, on the property owner side, say he or she paid a lot for the commercial property and was trying to make a return of investment in 20 years or so... or just someone who had property there, closed down the shop for whatever reason, and is making a living by renting the place. You see how it's also unfair for the owner not to get anything because pandemic closed it down. Particularly because government action also left owners with no option - you can't evict people, you can't charge, you can't do anything even though you paid for the property? The rational solution is to negotiate, one side being irreductible is kinda bad. See, I heard some cases that goes almost the opposite way. It's not commercial, but just to make a known parallel. This person lived in a relatively big house, owner, decided it was too big, moved to a rented apartment, and was paying the apartment rent plus some utilities by renting the house. Pandemic hits, people living in the house said they couldn't pay rent anymore, which in turn means there's no money to pay the apartment rent too, nor utilities and living costs. Can't evict to rent it to someone who can pay for it, can't sell the place because of eviction blockage. It's kind of a cascading effect. I agree that insane pricing on overvalued real estate areas is a bad thing, but you gotta remember that sometimes it affects both sides. Unless it's some investment bank or group that sweeped all real estate en masse when it was cheap and are actively exploiting people nowadays overinflating prices on purpose, it could be people who worked their entire lives to put money there, and now they depend on rent money. People don't like to hear this, but for urban centers that have over inflated real estate, there should be some degree of regulation to stop it. But when things have been going this long, people on both sides can have their lives ruined if it's not looked on a case per case basis.
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