Major hoteliers getting out of the time share business

The time share business is spiraling into a state of near collapse. Developers and marketers are more desperate to unload time shares and stave off bankruptcy than Clark can ever recall.

For a brief spell, time shares almost gained respectability thanks to the interest of Hilton, Marriott, Wyndham and others in their development and sale.

But buying a time share is not an investment, it is an obligation. The typical time share loses 80% of its value the moment you buy it.

The Wall Street Journal reports that the big hoteliers themselves can't get money to fund time-share operations.

The only way to even consider buying a time share is to get one secondhand at a deep discount from a private owner. But even then, if the operator of the time share is insolvent, you'll likely have problems with maintenance of amenities like pools or tennis courts.

This is very dicey territory. You've been warned!