Another Factor Facing Timehsaring?

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

Anyone notice the mood of the country away from some of the traditional things that have been virtually sacrament to Americans?

Owning a house, for instance. Now the tune of the day is "why locked yourself into 30 years when you can rent wherever you want?"

Applying that general sentiment to timesharing, it goes against the traditional advice of buying where you want to go. Why buy the same week at the same resort, forever? Let's face it, very few are going to want that . . . the same place, the same time, every year, forever.

Of course, there have attempts to make that more desirable>>>the same resort, but pick your week every year . . . but it's still the same resort.

Not the same resort, not the same week, every year . . . but it's still limited to whatever limit limits it.

The ultimate "free" choice, is anywhere, any week, any time, go wherever you want, whenever you want.

It may cost more (or may not), and the money spent is money gone, like renting a house rather than buying, but the consumer gets what they want with no ongoing obligation.

[tonyg Goomba & Super Moderator Find all posts View Profile Close tonyg]

So why do you own two houses ? Just heard in the last few days that home sales are way up in the middle of the country.

[rapmarks Moderator Find all posts View Profile Close rapmarks]

I am back at Christmas Mountain village.
Here are some things that make it seem like timeshare sales are going strong.
A sales manager who lived across from me, bought a large home here, bought a Bentley, and told a friend he has 120 sales staff under him, right here at CMV.
A fired sales manager just took a loss on his home but still sold it for $550,000.
I ran into another sales manager who has been here for over twenty years. I asked why Bluegreen never developed vacant property on resort. He said they are getting 6 or 7 new resorts a year free, so they won't develop anything that costs them money. He confirmed they have about 120 sales staff here.
In our small neighborhood , 7 homes sold this spring, has never happened here before.

[T. R. Oglodyte Moderator Find all posts View Profile Close T. R. Oglodyte]

Anyone notice the mood of the country away from some of the traditional things that have been virtually sacrament to Americans?

Owning a house, for instance. Now the tune of the day is "why locked yourself into 30 years when you can rent wherever you want?".

I"m not sure what world you're living in Jim. Around here the main story in real estate is immense frustration with the shortage of houses available, and despair of many younger people at seeming to be stuck forever paying rent.

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

There is currently a strong upscale second home market. &, yes, there are pockets of housing shortage.

My thoughts are not for the immediate future or those small pockets, but for further down the road, as millennials are shying from long-term real estate obligations:

"As the U.S. homeownership rate continues to decline, renter-occupied housing increases by nearly two million year-over-year.

◾This represents a 4.9 percent increase in the last year alone, and a nearly 29.0 percent increase since 2005. National vacancy rates are at their lowest levels since the 1980s.
◾U.S. homeownership declined to 63.4 percent, the lowest rate since 1967. Homeownership rates slide as wage growth lags and tighter standards for mortgage lending act as substantial barriers to entry.
◾Gen X homeownership plummeted 220 bps in the last year, to 58.0 percent, further highlighting a less-elastic demand profile for rental housing. In spite of a quarterly uptick of 20 bps, the homeownership rate for millennials is down 110 bps year-over-year."

http://www.us.jll.com/united-states/...ownership-rate
- - - - - -

Not my facts.

Most of us here, maybe all, owned a home, or two, before buying our first timeshare. If fewer in the younger generations are homeowners, they will be less likely to be timeshare owners, perhaps. It seems like a logical extension.

Like most things, though, time will tell.

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

So why do you own two houses ?

Because we sold one.

[tonyg Goomba & Super Moderator Find all posts View Profile Close tonyg]

I was trying to be nice by not saying you had 3.

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

I was trying to be nice by not saying you had 3.

Like always, bending over backwards to be nice.



I've googled a bit, and the timeshare industry does seem to be concerned about millennials. Comments like that they are a lot more connected digitally, that they seek an average of five sources for information before making financial decisions, that they shy away from debt, that they shy away from long-term obligations.

Seems like to traditional approach of lies and blowing smoke up their shorts would not be effective.

[T. R. Oglodyte Moderator Find all posts View Profile Close T. R. Oglodyte]

Like always, bending over backwards to be nice.



I've googled a bit, and the timeshare industry does seem to be concerned about millennials. Comments like that they are a lot more connected digitally, that they seek an average of five sources for information before making financial decisions, that they shy away from debt, that they shy away from long-term obligations.

Seems like to traditional approach of lies and blowing smoke up their shorts would not be effective.

Diamond is very concerned about millenials. So concerned that they are adapting their sales strategies. They've increased pricing about five-fold. Created super-elite membership levers, where it costs a minimum of $50k to become one of the preferred members with the perks that they have concluded the millenials wants.

How's that all working? They're setting sales records, the gross margins on their sales program are obscene (~50%), and they can't sell enough product so they are taking deedbacks from existing owners.

Throughout human history lies and blowing smoke have been effective sales techniques because humans are human. Human nature has not fundamentally changed in the course of a generation. The only thing that changes is the packaging. When the packaging is correct, the sales target bites and succumbs to the lies. Always been that way, and it always will be.

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

Diamond is very concerned about millenials. So concerned that they are adapting their sales strategies. They've increased pricing about five-fold. Created super-elite membership levers, where it costs a minimum of $50k to become one of the preferred members with the perks that they have concluded the millenials wants.

How's that all working? They're setting sales records, the gross margins on their sales program are obscene (~50%), and they can't sell enough product so they are taking deedbacks from existing owners.

Throughout human history lies and blowing smoke have been effective sales techniques because humans are human. Human nature has not fundamentally changed in the course of a generation. The only thing that changes is the packaging. When the packaging is correct, the sales target bites and succumbs to the lies. Always been that way, and it always will be.

I'll take two please.

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

OK. I'll agree.

Except for being reluctant to acquire debt, preferring to rent other than own in record numbers, moving back home with their parents in record numbers, being reluctant to trust and rely on sources they don't find credible, being the most digitally-connected generation yet, and relying on an average of four to five sources of information before making a decision, millennials are excellent prospects.

If the industry changes their approach, as they have never seemed to be able for us old, vulnerable folks, the future of the timeshare industry will be bright.

[ronparise Senior Member Find all posts View Profile Close ronparise]

Anyone notice the mood of the country away from some of the traditional things that have been virtually sacrament to Americans?

Owning a house, for instance. Now the tune of the day is "why locked yourself into 30 years when you can rent wherever you want?"

Applying that general sentiment to timesharing, it goes against the traditional advice of buying where you want to go. Why buy the same week at the same resort, forever? Let's face it, very few are going to want that . . . the same place, the same time, every year, forever.

Of course, there have attempts to make that more desirable>>>the same resort, but pick your week every year . . . but it's still the same resort.

Not the same resort, not the same week, every year . . . but it's still limited to whatever limit limits it.

The ultimate "free" choice, is anywhere, any week, any time, go wherever you want, whenever you want.

It may cost more (or may not), and the money spent is money gone, like renting a house rather than buying, but the consumer gets what they want with no ongoing obligation.

The great rescission cured us of the notion that realestate always goes up... It doesnt. Other things that have gone away are careers with one company, and defined benefit retirement plans

The old fixed week timeshare model as you suggest is pretty much gone too. Now the big developers have taken over the market with points systems. Wyndham is I think the biggest with their Club Wyndham, Worldmark, South Pacific and Shell systems. (not to mention RCI) and they are still developing with their new Margaritaville resorts and their new clubs in Asia and South America

The future with timeshares is I think "disposible" ownerships. At least one system (Wyndham again) is leading the way here. They will take back almost anything they have ever created to sell again. Can a short term ownership model be far behind...


I dont think however its the younger people that the developers are targeting, at least not yet. There are far too many of us baby boomers.. We (as a group, not me) have all the money and we have the time to enjoy a second home I recently attended the Club Wyndham annual meeting. there were something like 1000 people attending and I didnt see anyone that looked to be under 55 except the Wyndham employees

No guestion the timeshatre industry is changing and the old fixed weeks model is dead, but that change isnt new

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

Just curious . . . question for everyone/anyone:

How old were you when you bought your first timeshare?

For me, 39.

[tonyg Goomba & Super Moderator Find all posts View Profile Close tonyg]

52 and resale, tho I bought one at around 40 and rescinded the next day.

[vintner Super Moderator Find all posts View Profile Close vintner]

Just curious . . . question for everyone/anyone:

How old were you when you bought your first timeshare?

For me, 39.

Sure, make me do math. I hate math.

Age (minus) years of ownership (equals)....I think I was 46. And, like Tony, it was resale.