
Ed says , “High rents are an issue from the past. Commercial rents have declined precipitioulsy since the last recession. Rents and house prices are not determined solely by landlords or home sellers they are determined by prevailing market conditions at the time a transaction is contemplated. The entire process is driven solely by supply and demand. If demand for a particular real estate product is high then the cost of that product will be priced to reflect the current market demand. Conversely when demand is weak prices will fall …..and .sometimes they will fall rather quickly …..and dramatically. Generally speaking at any given time rents are a fairly accurate reflection of either current or anticipated conditions in the specific market to which the property relates. The problem is if a business cannot attract enough customers ANY RENT THEY PAY IS TOO HIGH TO SUSTAIN THEIR BUSINESS. The problem in Ridgewood is a dearth of customers. On the retail side people increasingly prefer to buy goods online at incredibly good prices and they enjoy the added benefir of having the goods delivered right to their door.. A conventional retailer can’t beat that type of competitor.”





















