Even some of Tulum’s biggest critics prefer to look on the bright side: When the wind blows away the seaweed and the house music dims, Tulum is still a great place to be with a margarita in hand while your friends in Manhattan trudge to work in the snow. But the problems are becoming harder to ignore, and there are certain signs that the Tulum bubble is gently deflating. Some hotels are reporting more vacancies than usual, and so many new condos are for rent around town that some had to lower their rates.

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