Yeah, it’s bleak. No one is going to get serious about climate change until the Boomers and Gen-X die off. Our society has zero capacity for serious collective action, we can’t even get people to get vaccinated anymore because Joe Rogan and conspiracy dipshits have melted the brains of an entire generation. We had like a solid 20-30 years to prep for this crisis that we wasted because Rush Limbaugh told your parents the scientists are all wrong.
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Why you put Gen-X with Boomer? Stop that!
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Right, the response to COVID made it clear that on climate change, we’re drawing to incredible scientific advances. Society won’t give up any comfort/happiness/economic gains now to avoid future problems - especially for future generations.
It was clear by at lest the late 90s this was going to be an enormous problem that needed a massive government project to fix and the Boomers sat on their hands. And I don’t see Gen-X being much better tbh.
https://twitter.com/Pinko69420/status/1681974890402922496?s=20
The idea that it’s going to get better when the olds die is just plain wrong. The corporations will buy the politicians forever. And racism will always outweigh self interest. The world is just going to slowly burn until we’re extinct.
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yea especially if AI takes off which it will… you think datacenters use too much energy now? HAH
ngmi
Just holy shit at the stupidity of the author of this article:
This might be the dumbest line I’ve ever read in any article ever:
No dude, that’s exactly what a timeshare is, and the resale value sure as shit doesn’t track the property value. These numbnuts spent 1.1 million dollars on a timeshare that currently has $50,000 a year in maintenance fees (that will definitely go up every year), for 6 weeks of vacation time a year. This article glorifies it like it’s some kind of unique and smart investment choice. This thing has absolutely no resale value, nobody is buying a timeshare that is going to cost them $50k per year (probably closer to 100k by the time they realize they made a terrible mistake and start trying to figure out how to sell it).
Also not quite sure how 1/6 of a year = 6 weeks.
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Loool what the actual fuck
I saw this headline previously and thought it was going to be an annoying thing where some kids with a trust fund bought an ownership stake on an actual entire resort and moved out to manage it or something.
But no, it’s literally just a timeshare of a single suite for a milly
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I love the part where the author is like “It’s not a timeshare because it will increase in value and you can leave it to your children.” That’s literally the lie that timeshare salesmen have been using to sell timeshares for 50 years.
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I’ve worked with former timeshare salespeople. Both of them were top 10 most odious coworkers ever and I was in the car business for like 5 years. You think used car salespeople or furniture salespeople are bad? Yes they’re awful, but the timeshare people are an entire standard deviation worse.
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Look the article saying the rooms are 2k a night so at 50k maintenance fee a year they could spend 25 nights a year and save the million dollar buy in
Yeah, they’re worse, because at least used cars have values. Buying a timeshare from the developer is 100 percent a con-job. Something like 80 percent of the cost of the timeshare goes to sales/marketing of the timeshare. The property itself is always worth pennies on the dollar, with only a few exceptions.
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Maintenance fees also generally rise faster than the rate of hotel inflation. Their theoretical “break-even” point (ignoring the time value of money) has to be something like 50 years in the future, if ever.
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If you have 1.1M to spend on vacations and can’t do basic investment calculations you deserve to not have 1.1M. Sorry not sorry. These are stupid rich people and I’m glad someone else got their money.
But wow at the journalist just not even checking their numbers and making the story anything other than ‘rich people can get scammed too’.
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How much do you want to bet they financed their 1.1 million dollar purchase? Timeshare loans from developers are currently running about 16 percent APY.
Imagine what kind of person signs up to sell people in those “free dinner if you listen to the pitch” timeshare scams.
My boomer parents of course have a timeshare.
Timeshares are not all terrible if:
- You buy it on the resale market for pennies on the dollar;
- It is through a system that has a voluntary deedback/surrender program so you have an exit option when you are done with it in case you can’t unload it on the resale market; and
- You have done the math and you are well ahead of the game immediately in annual maintenance fees versus what you would cost to book the resort.
For the average person though who buys from the developer at one of those scam presentation for tens of thousands of dollars? Yeah, it’s terrible. I’m guessing your parents fall into the latter category?
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On top of the awful article, this also has to be a paid advertisement from the timeshare company that CNBC isn’t disclosing, right?
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I knew this was absolutely a lock to be the case as soon as I saw “but it’s not a timeshare!”
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