i disagree. Rents are insane, labor; expensive, transient, lazy, unreliable and snarky. Retail puts owners in an early grave. Worse, the customer market is broke from paying these insane rents.
1. We may be "under-retailed." But we're near or at peak retail.
2. Retail in age old neighborhoods is tough enough. Setting up retail in these up and coming neighborhoods is an insane gamble. Consider the absurd money put at risk, and recent failed ventures: Leave predicting future retail traffic to the pro's who put up the money.
*Cabo is that rare exception to the rule.
3. The world we see and experience is market driven. Capitalism gets the last word (except in Orwellian California).
4. Don't blame the messenger. 1-3 is undisputed.
Boston doesn't build dense enough to support the retail called for on all these threads. Start filling neighborhoods with thousands of units, and the investors will come.
*(i was in surfing Shipwrecks, 9 Palms, Zippers, Punta Perfecta, Pescadero and Monuments back in the '80s, before anyone ever heard of Cabo. I'm not a get off my lawn guy, but it was wayy better then).