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Re: Timeshare sells (by R P.):

warrenf17 wrote:

I am glad that you got to sell some units. That is very lucky and you must of priced them right. That said, today people want OUT of their units period, I did and found a way out.

Cost of oil and utilities are going through the roof. Food and essentials are starting to follow. Until an alternative fuel source is created and made affordable. People are not going to travel far.

MFs are going to sky rocket as;

1 fuel and utilities needed to heat cool and light the resorts.

2 fuel used in maintaining grounds.

3 Cost of living increases for the employees

4 amount of deadbeats the resorts cannot collect fees from. this number is projected to soar.

5 Already seen the first of many resorts to fold

6 As resorts get older they decide to revamp and rebuild charging members $3-4000 in special fees. If your resort is older watch out for it.

7 I specifically along with more expensive companies take units and kill them off on a daily basis. Again the resorts can not collect on them so you pay higher usage fees. I get a lot of those with the special fees.

7 this all has a snowball effect. Eventually all resorts will go under and new ones will be built.

So if you were able to get money for yours v's paying, you did well. Times are changing and changing fast.

Unfortunately, many points that warren has stated above is probably true. Travel will become a luxury item in the future. The economy and the oil crisis will continue to have a ripple affect throughout our country and the world and it will only get worse.

I predict millions of foreclosures on timeshares as people's main objective will be putting food on the table (getting higher), paying electric and natural gas bills and buying gasoline just to get to work. Paying maintenance fees for a luxury item such as a timeshare will not even be considered in thousands of budgets.

A friend of ours that lives in Florida told us the other day that he filled both his wife's car and his truck and the total was $140. This is crazy.

I predict many resorts will go under and those still in active sales will be grossly affected as people will not be able to afford a timeshare or the gas or airline tickets to get there.

One point warren made that I do disagree with is that older resorts will go under and new ones will be built ..... a developer would be out of his mind to build new resorts in this economy. Who could afford to buy the weeks?

It's a sad state of affairs all caused by oil and with China and India becoming burgeoning economies with their rising use of oil on a daily basis, I don't see this crisis going away anytime soon.