Covid

Stores with no nearby workers won’t spontaneously fail. But the situation is symptomatic of a precarious labor/housing equilibrium. In this precarious system, stores are likely to be toppled by external forces (Covid), and have farther to fall afterwards.

Other cities, with more robust labor/housing equilibriums, are bouncing back from the pandemic just fine.

Never ending stream of suckers that has not realized that it doesn't work out yet. Like Uber drivers that are selling their car at a loss one mile at a time.

Some might be living in rent controlled flats though.