Sales of timeshares are up year-over-year in a surprising post-recession development.
The Orlando Sentinel reports U.S. sales of timeshares in 2011 totaled $6.5 billion, up 2.4% from the prior year. Overall, sales are still way down by about 35% from the $10 billion peak in 2007.
The interesting thing about the latest numbers is that this is not people reselling timeshares themselves. This is developers finding new buyers.
If you have timeshare and want to sell it, it is almost completely unsellable. People are not just giving them away, they’re even paying others to take over the obligation. Go to Tug2.net, an online message board for timeshare owners, and see for yourself.
Remember this: If you’re tempted to go and hear a timeshare sales presentation for the lure of free tickets to attractions, you’ve got to go in with two broken arms.
This is a defective industry. Any product you buy that immediately goes to zero in value the next day is defective. So never buy from a sales presenter or developer. Only buy online where you pay nothing or may even get paid to take it off somebody else’s hands!