Last week was in Destin on vacation. I was amazed how many shops have closed up with for sale signs. Notice broken windows boarded up on some. Three years ago it was thriving.
Oddly, the hotels in “Prime” locations were full and had higher room rates than 3 years ago.
I was remarking on that a few weeks back. The ‘For Lease’ and ‘For Sale’ signs are everywhere. The empty storefronts are ubiquitous.
The very wealthy are still enjoying their vacations and taking in the salt air, but they don’t buy trivial trinkets and such like their lower and middle class counterparts. They are more careful with their wealth and will not waste it on junk........