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.

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