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I love this quote from a woman trying to sell a timeshare in Orlando:
The "motivated seller," as she describes herself in her Craigslist ad, is selling the unit for $6,000, much lower than what she paid for it five years ago. "I've priced to sell," she says. "I'm trying to be reasonable given the economy."
At least she's got one ponit correct:
Vazquez says she'll continue to try to sell on her own rather than rely on third-party resellers, who wanted her to pay a fee upfront.
As for the remainder of the article, I don't think it's any surprise that developers are expecting a decline in sales, which will result in a decline in new builds. The market for timeshare loans, which are likely among the most risky loan out there, has all but dried up. In order to continue selling, developers must sell those loans to raise cash now. They can't afford to wait 7,8 or 10 years for those loans to mature and be paid out. Developers need the cash on hand to pay expenses rather than the promise of cash trickling in over a 10 year period of time.