Timeshare owners today are taking advantage of any form of timeshare relief just to be free from their timeshares. The economic crisis which hit the United States in the latter part of the year 2008 caused dire effects on the timeshare industry. Leading luxury vacation conglomerates report massive losses on sales and revenue on their timeshare divisions. More and more owners today are getting rid of their timeshares as they can no longer sustain its continued expenses.
A lot of owners today are getting rid of their timeshares by selling. As a consequence, timeshares literally flood the market today. The oversupply of timeshares for sale in the market has increased the competition between and among timeshare developers and owners. Classical economic theory is given credence as the oversupply of timeshares drive timeshare prices down to record lows. Timeshare prices of 1 dollar per timeshare unit now proliferate in online auctions such as eBay.
The widespread sentiment of discontent among many timeshare owners today has caused lowered consumer confidence on the timeshare industry. Vacationers today are less likely to purchase timeshares compared to consumers several years ago. Worse, the economic crisis also affected timeshare consumerism as more and more parties are hesitant to spend substantial sums for luxury vacations. This has resulted in heavy losses on timeshare sales for timeshare companies and has stalled the timeshares for resale of many timeshare owners. Thus, it is highly recommended that owners, who are getting rid of their timeshares by selling, should rather avail of other forms of timeshare relief.
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