A Ghostly Commercial Sprawl Drains Municipal Funds

Business Week reports:

For governments grappling with a fierce economic downturn, urban sprawl is turning out to be far less of a problem than empty sprawl. Across America the skeletal remains of millions of square feet of commercial real estate have produced a sharp decline in tax revenues. This is forcing government to deal with an upsurge in business properties that are no longer productive.

While home foreclosures have been a central problem in America's real estate crisis, nonperforming commercial properties are playing a major role in roiling municipal finances.

An article well worth your time.