Applications folder is empty
How do I fix this? I'm on Mountain Lion 10.8.2 (12C60) 2012 air, and although my main applications folder has my apps in it (Macintosh HD > Applications) and my launchpad looks fine, for some reason my user applications folder is completely empty (Macintosh HD > Users > MyName > Applications). I am the only user on this computer (other than guest account). I don't remember it being like this in previous versions of OS X. Is it meant to be empty unless I have apps installed only for myself?
MacBook Air (13-inch, Mid 2012), OS X Mountain Lion (10.8.2)