from Reuters (2/6):
Time bomb?
Fri Feb 6, 2009 7:39pm EST
"Vacation time-shares must rank near the bottom of anyone's must-have list these days, not far from designer water, animal shrinks and personal spa consultants. That the high-pressure industry is reeling comes as no surprise. What's less obvious is why the business didn't fall apart sooner, especially since it is caught in the same securitization collapse that buried subprime mortgages and other asset-backed securities.
Banish any thoughts that time-share developers are immune from the economic downdraft. Marketing of new time-shares is being drastically cut. Time-share financing is extremely tough. Securitization is nonexistent." ...
for the complete story
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