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Effect of the economy, credit crunch and oil

E

e.bram

Guest
Joined
Jun 6, 2005
Messages
3,245
Reaction score
154
Location
Fort Lee, NJ
Anybody the effect on developer sales and resale units which require air travel.
It could be devastating.
 
Whoever take tours are already at the resort area. So very doubtful they will consider stuff like that. More likely, high unemployment , lay-off news will make working people hestate to commit big item purchase. Don't know if it will prevent retire people. More likely, that group will fall for the fear of high inflation cost.

Jya-Ning
 
TS sales will definately take a hit, heck everything else has. Although, as the market re-adjust itself, and the masses get used to another change in the economy, people will be a lot more cautious in the next 3 to 7 years, until we forget the pain of a changing economy.

Heck, I can say for myself I have had to make some hard choices. Like, do I want to go on my vacations or get a new car? My current vehicle works fine, needs a paint job, and is paid off. Soooooo, since I gotta have my vacations...I am keeping that 2000-Ford Winstar until it officially dies a long awaited death.

When it boils down to it, its a matter of prioritization and need that will drive this. My finances were shaken with these changes in the economy, and I had to prioritized what I wanted most, as others will have to decide.
 
I personally see the economy here in the USA affecting those who own TS and are marginally able to keep up with their payments and MF's. I look for those people to default at a higher rate, causing problems for our POA's and making bailout difficult because they may still owe significant money making a clear deed impossible for resale.
 
I was filling up my SUV Friday, and when I went in to pay I told the owner of the station that there seemed to be no end to the rising cost of gas. He said it was affecting him too. He said that he had cancelled his trip to Disney world this summer. He said that cancelling the trip had upset his kids, but with the economy and the price of gas he had to cut back on things, and vacations are a luxury that he couldn't afford right now.

Here on TUG we tend to debate whether we will vacation close to home or pay the high costs to fly somewhere because most of us feel that going on vacation is a given. If the economy worsens and fuel costs keep rising, it could get to the point where even us Timeshare owners start looking at vacations as a luxury rather than a given. I love my vacations, but if I was having a hard time making ends meet, I can assure you that my mtge. payment, groceries, and utilities would be my main concerns, not where my next vacation will be.
 
tombo said:
I was filling up my SUV Friday, and when I went in to pay I told the owner of the station that there seemed to be no end to the rising cost of gas. He said it was affecting him too. He said that he had cancelled his trip to Disney world this summer. He said that cancelling the trip had upset his kids, but with the economy and the price of gas he had to cut back on things, and vacations are a luxury that he couldn't afford right now.

Here on TUG we tend to debate whether we will vacation close to home or pay the high costs to fly somewhere because most of us feel that going on vacation is a given. If the economy worsens and fuel costs keep rising, it could get to the point where even us Timeshare owners start looking at vacations as a luxury rather than a given. I love my vacations, but if I was having a hard time making ends meet, I can assure you that my mtge. payment, groceries, and utilities would be my main concerns, not where my next vacation will be.
Click to expand...

This highlights why, unless you are independently wealthy, it makes more sense to buy a T/S closer to home rather than in some far-flung exotic locale -- in a place where in tough times, you'd be more likely to go than forego vacationing altogether. ... not that I begrudge those who buy in Hawaii at all.
 
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