They build strip malls but no one occupies them ...ever... Has this happened where you are?

The "build it and they will come" model of the 00s. Everything was still going as planned until the Fanny/Freddy debacle that led to the modern depression.

The "neighborhood shop" mostly comprised of Dollar General stores and scaled back versions of the Big Box Chains filled the vacuum in the industry and it doesn't look like we're going back anytime soon.

The good news from that graph is that sales seems to be fine, it's just all going online now.

That does not bode well for commercial construction.

I think they scam investors. This is done with residential developments all the time, why not commercial developments?

They make this pie in the sky prospectus, about how if you invest now this thing will pay off and provide you an income for the rest of your life.

Then they pitch it to old people as a sure thing, can't miss opportunity.

Whether anything ever pays off for the investors is beside the point for the scam artists. They make their money and they don't care who they hurt.

I knew a guy who was involved in things like this with condominium development in Houston in the 80s - remember HUD was in bed with the developers?

They overbuilt luxury condos, fleeced the investors, then turned it all into section 8 federally subsidized welfare housing.

It was a scandal because of the HUD involvement.

They're probably much better at it now.