The Montreal Gazette reports that a big part of the eight million timeshare owners, making up nearly seven percent of all households in the U.S., are finding how hard it is to sell their properties. Coupled with huge annual maintenance fees and the onset of scam artists trying to prey on unsuspecting timeshare sellers, for many the industry has not lived up to its promises of paradise.

With the economy in bad shape, a lot of pioneering timeshare owners have now retired and are forced to sell their properties in order to lighten the financial load. One will find countless timeshare properties being sold on online sites such as eBay, Craigslist and even Redweek.

Time share Users Group head Brian Rogers says that they've "never seen the resale market where it is now," adding that a lot of sellers withdraw from their office upon hearing that their properties depreciate as badly as a Yugo vehicle.

Source: Montreal Gazette