St Louis Mortgage and Real Estate News – St Louis Refinancing Loans and In-House Financing News: Malls Vacancies Hit All Time High | St Louis Commercial Mortgage, Customer Financing and Consumer Lending | Principal Reduction Program | 877-334-0210 or 314-334-0210 | Floyd Tapia, Commercial Lending, Financing and Consumer Loans

Even as the economy picks up steam, many of the nation’s malls and shopping centers are suffering a hangover due to changing consumer habits and the fallout from a massive building boom. Mall vacancies hit their highest level in at least 11 years in the first quarter, new figures from real-estate research company Reis Inc. showed.

In the top 80 U.S. markets, the average vacancy rate was 9.1 percent, up from 8.7 percent. The outlook is especially bad for strip malls and other neighborhood shopping centers as seen by St Louis mortgage brokers. Their vacancy rate is expected to top…
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