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PANHANDLE, Fla. (WMBB) – Panama City Beach in Florida is now the deadliest in
the U.S. so far in 2023 after three more deaths this past weekend.

Despite double red flag warnings, which mean no swimming is allowed in the Gulf,
heavy rip currents led to the three drownings and dozens of rescues.

National Weather Service statistics show that Panama City has had seven rip
current-related deaths in the past nine days, more surf zone fatalities than any
other beach in the U.S. in 2023.



Saturday’s victims were two men from Georgia, one 39 and the other 63, and a
68-year-old man from Michigan. Nexstar’s WMBB reports that an additional two
beachgoers also died in nearby Walton County, one on Thursday and the other on
Saturday. Then on Tuesday, former NFL quarterback Ryan Mallett drowned off the
shores of Destin, Florida, according to Nexstar’s WKRG.

Former NFL quarterback Ryan Mallett dies in apparent drowning in Florida

Since all of the victims were from out-of-state, responders and lifeguards are
concerned about tourist adherence to the hazard flag system.

“Our problem that I found is just the lack of compliance. The blatant disregard
to heed the lifeguard’s warning,” said Panama City Beach Safety Director Daryl
Paul.

South Walton Fire Rescue Public Information Officer Mackenzie McClintock also
added that, “It’s not a lifeguard’s fault when Mother Nature takes her course.
It’s never going to be their fault. They’re just there to keep people safe.”

Drownings and arrests increase with continued Double Red Flag violations



When it comes to U.S. states and territories, Florida leads all others by a wide
margin in surf-related fatalities with 26 this year, followed by Puerto Rico
with 13, according to the NWS. California, Louisiana and Alabama all have three,
as of Tuesday. As of publishing time, Mallett’s death had not yet been added to
NWS statistics.



In Panama City Beach alone, Saturday saw 39 rescues, along with 3 deaths
occurring in a 5-hour span. Paul says they still don’t have the full total of
rescues conducted over the weekend, attributing the delay to the large influx of
assistance his department required.

“We’re still tallying up the numbers and going through all of our reports,”
affirmed Paul. “Making sure we get accurate, honest data that we can pump out to
the city.”

McClintock noted that a large number of rescues were due to bystanders entering
the water to assist people already caught in the water, thus getting caught
themselves and turning the rescue from single-person to multi-person.



“The major concern that we have is not necessarily with our first responders
entering the water because they know how, but it’s the, so to speak, domino
effect of when bystanders go into the water to attempt to rescue because they
may not be swimming near lifeguard towers,” McClintock said.

Emergency service officials explain why surfers are exempt from Double Red Flag
beach ordinance

However, SWFD Beach Safety Director David Vaughan commended his team for their
efforts this weekend.

“These last 11 days have been quite a test,” Vaughan said. “They’re worn out.
They’re frustrated but we’re very proud of them.”

Officials conceded that the frustration visitors feel when kept out of the
water, a premier attraction in the region, is understandable, but stressed that
the value of human life far outweighs any monetary expense.

“You want to get in that water and you get frustrated when you hear a lifeguard
saying no, don’t get in the water, you got to stay on shore. I understand that,”
conceded Paul, “but what we’re trying to prevent is that one empty car seat on
that ride home.”

Violators of the flag system are subject to a $500 fine. If paid within 20 days,
these fines can be reduced to only $250.

Copyright 2022 Nexstar Media, Inc. All rights reserved. This material may not be
published, broadcast, rewritten, or redistributed.

For the latest news, weather, sports, and streaming video, head to NewsNation.




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The commercial real estate market is tumbling toward a crash that could be as
devastating as the 2008-09 crisis, according to the CEO of a major real estate
investment firm.

Patrick Carroll, founder and CEO of CARROLL, sounded the alarm about the state
of the U.S. commercial real estate market in a recent interview with CNBC.

“The party’s over, unfortunately,” he said. “The office market’s going to be
destroyed, hotels are going to be destroyed — it’s going to be ugly.”




A DIRE WARNING FOR COMMERCIAL REAL ESTATE

Carroll is not the first — and certainly won’t be the last — to ring the warning
bell for the commercial real estate sector.

Since the collapse of Silicon Valley Bank in March, experts have raised concerns
about the mega $1.5 trillion wall of debt looming for U.S. commercial
properties.

That mortgage debt — which is held mostly by small- and medium-sized banks —
comes due for repayment before the end of 2025.

“No lender is willing to lend because they don’t know where interest rates are
going,” Carroll said.




REAL ESTATE SAFE HAVEN?

According to Carroll, there is one real estate niche that is riding out this
wave: multi-family real estate.

In contrast to commercial real estate, the multi-family market has “strong
fundamentals,” says Carroll, whose real estate investment firm manages more than
33,000 multi-family units across nine states.

“I talked to one of the biggest landlords in the world yesterday and what he’s
telling everybody is: ‘Stay alive ‘til ‘25.’ Right now, our fundamentals are
great, people are paying rents [and] the market is healthy,” he said.




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