Vacation timeshares started becoming popular in the 1970s because it’s a great way of spending a vacation without paying too much.
But even a “budget” level vacation option is getting a drubbing because of the recession. According to the American Resort Develpment Association, timeshares sales may drop by 30 percent this year, compared to sales figures posted last year. The Association also said that selling timeshares will be a big challenge for the next 18 months.
I think that these are obvious conclusions. With so many people defaulting on their mortgages and losing jobs, buying a timeshare in some vacation locale is just a bad decision. Timeshares are considered “perpetual vacations” and with everyone scrambling to save every precious dollar, vacations should be farthest on their minds.