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Malls are making a comeback

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In the past few years, as the economy tanked (and tanked some more), shopping malls across the United States have gotten pretty grim—owners suffered low occupancy rates as shopkeepers and large chains struggled to stay afloat. Today, CNN reports that malls are making a comeback—just in time for indoor air-conditioned shopping this summer. "They've seen vacancy rates fall to 7% or lower and better sales have translated to higher rents, a reversal from two years ago when retailers insisted on concessions as they struggled with the recession. What's more, shares of both companies have surged in the past year, and investors are betting business will improve further." Yay! [CNN]