Print this Post

Idle Timeshare Thoughts: July 15, 2017

It's Happy Hour at The GateHouse
QUOTABLE QUOTES: “Yesterday is not ours to recover, but tomorrow is ours to win or lose.” —President Lyndon B. Johnson

Remember pre-2008? The stock market was sizzling and everyone from doctors to janitors was buying in. Even purported experts were so excited they told us it would be a permanent bull market and everyone could get rich. Just like pre-1929…

And real estate was also in a permanent upswing, according to the experts, doubling in value in the time it took to sign the paperwork. And the timeshare market? Holy crap! There seemed to be no end to the building of new timeshare resorts and the profits earned therefrom. Remember?

No one wanted to listen to peons like myself and a few others, the Cassandras of the world who tried to insist that we were in the middle of a huge bubble, that what goes up must come down, that we were in for a world of hurt if we didn’t watch out. What did we know, after all? The “smartest people in the room” were all betting on the black.

Well, we dummies were right and boy oh boy when that bubble burst it hurt plenty, didn’t it.

It’s probably just leftover jitters from what became the Great Recession, but I’m seeing shadows of similar things happening now and I keep harking back to all the “irrational exuberance” of that time at the beginning of 2008. A little thrill of nerves shoots up my spine when I think of it.

Someone talk me down, please. tin foil hat

Tip JarTip us off! Share news and info with us securely and confidentially. Some of the most important stories published by the GateHouse have come from anonymous or confidential tipoffs. If you have something sensitive to share, you can safely email the Gatekeeper. We will never reveal your identity without your permission. As well, if you have something positive to share, we’d like to hear that, too! CONTACT: gatekeeper@insidethegate.com

Permanent link to this article: https://www.insidethegate.com/gatehouse/2017/07/idle-timeshare-thoughts-july-15-2017/