The financial devastation suffered by the original owners is heartbreaking. They worked incredibly hard for their money and losing almost all of it when they had to sell likely represents years of blood, sweat and tears down the drain. I'm so grateful for TUG. This community has been a lifeline- what I've learned here has saved me from the same tragedy.
Yeah, timeshare industry is a strange one!
Looking at the retail prices for the deeds, many of them exceed the median household income! While I’m sure some of them were bought with saved cash or by higher-income families, I know a lot of people were pressured into uncomfortable financial positions to make these purchases, and I resent that. No industry should operate this way, and if it requires manipulating people into positions they can’t afford for you to grow, then your business is parasitic by definition.
I discovered TUG too late to avoid the initial retail trap, but thanks to what I’ve learned since joining, we’ll never buy another retail deed again.
It’s too bad we spent all that money early on, but we live and learn! Some faster than others. Thankfully, the experience didn’t financially devastate us like I know it’s done to many others.
As an instrument the closest thing I can relate buying a retail timeshare to is buying a brand new sporty Mercedes. It costs a lot, depreciates rapidly, costs a lot to maintain, and you don’t get to drive it much (because it’s always in the shop for repairs). For a fancy Mercedes, you either lease it, or buy it used after it’s depreciated 90%, and know that it will cost a lot to maintain and will always be in the shop for repairs.
