Where you live makes a difference. I live in a major city but in one of the highest SES neighborhoods there. Restaurants/stores are packed. Small businesses have closed, but new ones quickly take their place, expensive houses sell quickly (not just my observation, I have 2 friends here who are Realtors). Lots of home remodeling projects going on.
Interestingly though there is a culture here of reusing, gifting, etc. The Buy Nothing group was so active they had to split in order to take new members. There are multiple vintage stores within walking distance.