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Economy in sad shape. Bad for timeshares?

mamiecarter

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I have to conclude the recent finichal melt down is going to be BAD BAD BAD for timeshares and timeshare owners. What do you think???????
 

JMAESD84

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While it can't be good for timeshares, I'd say that would be the least of my worries if a financial meltdown occurs.

Home values, retirement savings, economic effects on living standards, etc would all be more imapcted more significantly than any effect on timeshare ownership.
 

lprstn

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Lets not forget that we all were in this same state of affairs 20 years ago, how easily we forget that the economy recovers itself...and if we can hold tight through the storm we will get used to the high gas prices, high taxes and everything else...just like we have before.
 

jehb2

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While it can't be good for timeshares, I'd say that would be the least of my worries if a financial meltdown occurs.

Home values, retirement savings, economic effects on living standards, etc would all be more imapcted more significantly than any effect on timeshare ownership.

Well said.

Our TS allow us to still take great vacations with a few minor adjustments.
 

Timeshare Von

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One of the possible results from the bad economy could be the number of people that can be expected to go into default with their existing ownership and the MF's. While the banks or developers will be left holding the bag on a defaulted loan, the POA and other owners will face dealing with shortfalls in the MF bank account.

I expect we could see some SA's or higher than normal MF's as a result. On the flip side, perhaps the resorts will have more weeks for sale (cheap) through the foreclosure process??
 

Carol C

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One of the possible results from the bad economy could be the number of people that can be expected to go into default with their existing ownership and the MF's. While the banks or developers will be left holding the bag on a defaulted loan, the POA and other owners will face dealing with shortfalls in the MF bank account.

I expect we could see some SA's or higher than normal MF's as a result. On the flip side, perhaps the resorts will have more weeks for sale (cheap) through the foreclosure process??

Maybe the govt will bailout the developers of timeshare resorts as part of the $700 bailout courtesy of US taxpayers! Where's our lobbyist, ARDA?!!! :rolleyes:
 

AwayWeGo

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[triennial - points]
Forget The Developers. What About Bailouts For Us ?

Maybe the govt will bailout the developers of timeshare resorts as part of the $700 bailout courtesy of US taxpayers!
The timeshare companies can twist in the wind.

I'd be more interested in bailout checks for us regular walking around timeshare owners -- could use the money to go out & buy more (resale) timeshares.

-- Alan Cole, McLean (Fairfax County), Virginia, USA.​

 

Blues

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Here ya go Alan. I just received this email with the subject:

URGENT SECRET BUSINESS RELATIONSHIP

Dear American:

I need to ask you to support an urgent secret business relationship with a transfer of funds of great magnitude.

I am Ministry of the Treasury of the Republic of America. My country has had crisis that has caused the need for large transfer of funds of 700 billion dollars US. If you would assist me in this transfer, it would be most profitable to you.

I am working with Mr. Phil Gram, lobbyist for UBS, who will be my replacement as Ministry of the Treasury in January. As a Senator, you may know him as leader of American banking deregulation movement in the 1990s. This transaction is 100% safe.

This is a matter of great urgency. We need a blank check. We need the funds as quickly as possible. We cannot directly transfer these funds in the names of our close friends because we are constantly under surveillance. My family lawyer advised me that I should look for a reliable and trustworthy person who will act as a next of kin so the funds can be transferred.

Please reply with your all bank account, IRA and college fund account numbers and those of your children and grandchildren to wallstreetbailout@treasury.gov so that we may transfer your commission for this transaction. After I receive that information, I promise respond with detailed information about safeguards that will be used to protect the funds.

Yours Faithfully,

Minister of Treasury Paulson
 
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vacationhopeful

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I have already had a phone call to my business regarding a "victim" of this mortgage crisis.

Fellow did a short sale on his house of 5 years. Mortgage company took 70% on the balance of this sale. His payment this year had gone from $1300 to $1500 which includes his property taxes. His taxes had risen over 5 years from $1700 to $2600. He lives in a town which the governor of NJ targeted who needs to consolidate with one of its neighbors (by cutting state subsizing funds as there are over 588 individual towns and 548 school districts in NJ).

His final statement was "I won't pay $1500 per month to live in this town" - not that he CAN'T pay, he WON'T pay. Both he and wife work fulltime, 2 kids and a dog.

With those ethics, we are "saving" him from financial ruin?
 
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