Shopping Centers Today

APR 2017

Shopping Centers Today is the news magazine of the International Council of Shopping Centers (ICSC)

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6 S C T / A P R I L 2 0 1 7 I t is hardly news that the recession pressed many home-goods and home- improvement chains to shut their weakest stores, and, in a few cases, even to file for bankruptcy protection — with some devout belt-tightening evident among those that did manage to tough it out. And yet, there are signs that these types of chains have begun to see something of a sales recovery, even as U.S. homeownership has fallen to a near-50-year low. Observers point to the lingering effects of the U.S. housing crisis combined with the realities of shifting demographics to explain the decline in homeownership rates. Having peaked at 69.2 percent in 2004, homeownership among Americans has fallen to 63.5 percent, according to the U.S. Census Bureau, representing a difference of roughly 7 million households. "The decline Despite a home- ownership dip, home- improvement and furnishings chains see strong sales By Beth Mattson-Teig Renters to the rescue OPEN-AIR REITS IN ROBUST HE ALTH 8 DINERS BRING TECH TO THE TABLE 10 SOME MALLS WILL ALWAYS BE MALLS 12 T H E C O M M O N A R E A N E W S F R O M A LL C O R N E R S O F T H E S H O P P I N G C E N T E R I N D U S T R Y

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