Good analysis but missing the 2nd order effects Restaurants have tight profit margins b/c lots of potential restaurateurs are competing to profitably use space, uncooked food and labor; they have to do so as well as potential competitors if all need more space -> rents go downhttps://twitter.com/ReLynnWrites/status/1255007228567814145 …
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Think about step 2; all restaurants fail to make rent, landlords try to find new tenants and no replacement restaurants can make the old rent because they're all in the same situation. Do they leave all the storefronts vacant? Of course not, they reduce the rents.
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What's likely to happen is that take out dining becomes more prominent; skilled chefs preparing meals with ingredients purchased often enough to always be fresh is still going to be as highly in demand as before. All restaurants have just gone into the micro catering business.
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