Vacation Home Rentals Hurting
Only 33% of Americans plan to vacation this summer, down from 40% last year.
"Bookings are down across the board for everyone. People are very cautious about their economic situation."
Second-home owners who help pay for their beach residences by renting them out during the summer are slashing prices as much as a third.
Some vacationers seek even deeper discounts, a retired Dallas real estate developer, negotiated a bargain
on an Oak Island condominium by renting for the entire summer. The owner sought $1,200 a week and he's paying $1,100 a month.
"People fear what is coming in the economy and how much of a vacation they can afford.
Gas and food and rent are going up, up and up. Instead of spending $4 on a hot dog, we brought our own."
The Nattering One muses... All those 2nd & summer home speculators are having trouble renting even at reduced rates.
Boo-hoo, can't you wait for $5 a gallon gas? Hattip to Bloomberg.
"Bookings are down across the board for everyone. People are very cautious about their economic situation."
Second-home owners who help pay for their beach residences by renting them out during the summer are slashing prices as much as a third.
Some vacationers seek even deeper discounts, a retired Dallas real estate developer, negotiated a bargain
on an Oak Island condominium by renting for the entire summer. The owner sought $1,200 a week and he's paying $1,100 a month.
"People fear what is coming in the economy and how much of a vacation they can afford.
Gas and food and rent are going up, up and up. Instead of spending $4 on a hot dog, we brought our own."
The Nattering One muses... All those 2nd & summer home speculators are having trouble renting even at reduced rates.
Boo-hoo, can't you wait for $5 a gallon gas? Hattip to Bloomberg.
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