This holiday season is one filled with contradictions for retail real estate. Consumer confidence has plummeted, but their spending is at all-time highs. Leasing is bustling and vacancy is tight, but store closures are outpacing openings.On this episode, Northwood Retail President Ward Kampf joins the show to unpack the uncertainty surrounding the asset class, which has also been deeply impact by tariffs, artificial intelligence and vast changes in behavior between generations.“Young kids today, they eat different and don’t drink as much as we did when we were young,” he said on the show. “They are much healthier than we were. We ate whatever we wanted and drank a lot.”Kampf also discusses what is expected to be a bumpy 2026, predicting even more closures, potential drugstore bankruptcy and backlash to $20 salads and burritos.“The key word going forward, doesn’t matter your political slant, right or left, is affordability,” he said. “People are really conscious of that.”