Why don't I "look" thin yet? I don't get it?

Anonymous
I'm 5'7" about 117 lbs.
I used to be around 160 lbs. I work out some and eat well, but I still feel big even though I know I'm not.
In some places, my whole upper body is really thin, my waist is small, but I have a little lower belly and a lot of... loose skin? Can I have extra skin from loosing that much?
Why don't I "look" thin yet? I don't get it?
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