The Timeshare Dilemma – An Industry in Decline?
Timeshares were all the rage in the later part of the last century. Timeshare companies were making money hand over fist offering a way for regular people to own a place where they could vacation every year or trade with others if they wished to go somewhere else. Now, with people losing their jobs and homes, the bloom is off the rose of timeshare ownership. What are the problems and can people still get good deals for vacationing?
Owning a timeshare is a financial commitment. You are basically buying a townhouse for a week or two and are responsible for maintenance, insurance, taxes, and upkeep in addition to the mortgage you took to finance the purchase. This is great when the economy is good, but you can see a lot of timeshares for sale right now because it is a financial liability that people can’t carry around in hard times. …