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Most Americans unknowingly own stakes in sprawling suburban retail developments like a nondescript 7-Eleven in Williamsburg, Virginia, through retirement accounts and investment funds that hold shares in real estate investment trusts. These financial structures that enable passive real estate ownership have created a disconnect between owners and the actual properties they hold, resulting in poorly designed, characterless neighborhoods with no one accountable for their aesthetic or community impact. The article argues that this distant ownership model—where individuals have no knowledge of or investment in the places they partly own—contributes to America's soulless suburban landscape.
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