Friday, April 6, 2012
SmartMoney details the slumping market for timeshares:
As values sink and desperation grows, the number of owners giving their timeshares away for $1 – or less — has doubled in the past year, says Brian Rogers, of Timeshare Users Group, an owner advocacy group. “There’s never been a worst time to try to sell a timeshare,” he says. . . Up to 48% of timeshare owners are behind on their annual maintenance payments by at least a year . . . . To make up for these losses, resorts have been increasing the maintenance fees on the individuals who continue to use their timeshares.