Originally Posted By dshyates So what happens when someone can't sell their DVC and they can't afford the fees? As in what happens when someone defaults? As I am sure this will be happening more and more frequently over the next 18 months.
Originally Posted By dshyates I bet DVC sales are SCARY right now. People aren't buying ANYTHING. No houses or cars, so my guess is $20K on vacation expenditures is, shall we say, "on hold".
Originally Posted By Spirit of 74 Wow ... you ask folks for examples of vision at WDW and it turns into a DVC thread without a certain Spirit saying a thing. Scary. I'm enjoying reading, but I don't see (or agree) with anything that's been suggested here showing longterm vision for WDW. Danny's comment about Pixar was a smart business decision and I could argue easily that he is correct about it being visionary BUT he misread the rules here ... I am speaking about visionary decisions AT WDW. As for DVC sales, I am trying to dig up some info., but I don't believe that things are going swimmingly. I just don't buy that DVC is world recession (bordering on depression) resistant. That would truly be magical. But last week they broke ground in Hawaii and it looks like the BLT will be hosting guests a LOT sooner than the October timeframe originally talked about. With the way they are rushing that baby, I'd expect to see it done by early summer (at the latest). Oh ... and I hear they are very close to a deal in Tahoe for another non-resort location. But none of that shows any vision unless the vision for Disney is to be the world leader in timeshare!
Originally Posted By dshyates I just think that Disney like everyone else, in the days of easy credit, jumped on the real estate development bandwagon. And every one that I know that was neck deep in real estate has taken a bath in the past year or so. With 3 DVC developments at WDW under construction right now, I wonder how long until we get one half built like Pop Century.
Originally Posted By fkurucz ^^I wouldn't be surprised if a high percentage of DVCs memberships were purchased with Home Equity bucks (HELOC), same as the case with cars. I read that at the peak of the bubble that 40% of all cars sales in California and other bubbly regions were financed with HELOCs. I say that I wouldn't be surpised because there aren't that many people who have 20K just laying around. Those who do have savings usualy have them tied up in a 401(k).
Originally Posted By fkurucz <<The corporations are great at purchasing the new ideas but they rarely originate it (for example PIXAR). The corp lacks the insight to see the visionaries finished product and believes their business model is the only model.>> I see this first hand where I work. Or company "motto" is "Invent", but we don't do a lot of that lately. On the other hand, we seem to announce a billion dollar plus acquisistion every other month.
Originally Posted By danyoung >BUT he misread the rules here...< Yeah, I realized you weren't speaking company wide after the 2nd page of DVC posts. . .
Originally Posted By fkurucz <<That would cost $20,800. Not chump change, but not something I would sacrifice my home equity for either. Not when Disney will finance the thing with 20% down at a very reasonable interest rate.>> Depending on the amortization schedule, it could be as big as a car payment. Add it on to your mortgage and its only $100 per month, and possibly $0 per month if you can refi at a lower rate. (Say you refied a 200K loan @ 6.5% to 220K @ 5.5%, even rolling in the refi costs the payment wouldn't go up). Plus its tax deductible. There is a reason why millions took out HELOCs. They went on a spending spree that has finally hit the proverbial brick wall. Just ask any car salesman.
Originally Posted By RoadTrip <<Depending on the amortization schedule, it could be as big as a car payment. Add it on to your mortgage and its only $100 per month, and possibly $0 per month if you can refi at a lower rate.>> You are absolutely correct -- it would cost less in monthly payments the home equity route. I was just never willing to sacrifice my home equity. They only time I ever used my home equity loan was to make an improvement to my property that would add resale value equal to at least 70% of what I was borrowing. I realize I'm probably a little thriftier than the average person.
Originally Posted By fkurucz <<I realize I'm probably a little thriftier than the average person.>> If only more were like you we wouldn't be in this mess.
Originally Posted By MPierce >> I'm enjoying reading, but I don't see (or agree) with anything that's been suggested here showing longterm vision for WDW. << I disagree with you here Spirit my friend. I think my post addressed your question perfectly.
Originally Posted By Spirit of 74 What did you say MPierce ... I'd rather sit here at 2:30 a.m. watching Burt Reynolds, Jerry Reed and Dom Deluise with a pregnant elephant than go read what you said originally. BTW, does the above make me an honorary redneck? And do you know what I am watching?
Originally Posted By davewasbaloo I love the Smokey and the Bandit and Cannonball Run films (but then again, I have always been a closet redneck).
Originally Posted By Mr X ***it looks like the BLT will be hosting guests a LOT sooner than the October timeframe originally talked about*** The Bacon, Lettuce and Tomato? These acronyms are growing tiresome. (try as I might, I just can't hold my tongue on "MILF", and now we throw in a "BLT" for good measure? lol) Visionary? Everest brought a lot to DAK. The overhaul of Epcot is not for everyones' tastes, but certainly they have invigorated the place a great deal, and continue to work hard to make Epcot relevant. It would be easy enough for them to let the place rot, and continue to take in a "reasonable" amount of customers per year, but I feel that they are still striving to perfect the place, though at times they are misguided imho. If you want to talk "visionary" though, it's fair to give credit to even misguided efforts. Walt Disney threw in a circus at one point, did he not? The shows continue to improve and impress (Nemo is just one example..not my favorite but certainly a great deal closer to "broadway quality" than what we were assaulted with a decade ago), that could be considered visionary, or at least "forward looking". Can't say as I have any positive comments for MGM or the Magic Kingdom though (I'm pretty much on the same page as DavewasBaloo...the reasons to visit Orlando are twofold, Epcot and Animal Kingdom...even today and even with Epcot being a shadow of its' former self). I don't get Disney resorts in remote locations. Can anyone explain this to me? What is the deal with Hilton Head? Hawaii? Other places? Are they really SO great? Is it worth it? I don't understand staying at a Disney hotel in a non-Disney location. I guess I just don't understand the appeal. (in fairness, Tokyo Disneyland is just a walk down the road from me, so I can't imagine being SO removed from a Disney vacation that I'd settle for a hotel with the name "Disney" on it)
Originally Posted By A Happy Haunt <<BTW, does the above make me an honorary redneck? And do you know what I am watching?>> Even I've seen that movie!! MPierce, I saw Gary Puckett at EPCOT a few years ago!!
Originally Posted By HMButler79 I love how everyone is blaming the economy for lack of vision. Um, hello? There was a recession in the early 90s, but that didnt stop Eisners "vision" of blowing 3 BILLION on Paris.
Originally Posted By MPierce >> MPierce, I saw Gary Puckett at EPCOT a few years ago!! << A truly talented singer!
Originally Posted By MPierce >> What did you say MPierce ... I'd rather sit here at 2:30 a.m. watching Burt Reynolds, Jerry Reed and Dom Deluise with a pregnant elephant than go read what you said originally. BTW, does the above make me an honorary redneck? And do you know what I am watching? << II wasn't nearly as great as the original Smokey and the Bandit! Have you ever watched WW, and the Dixie Dancekings? That's a requirement!
Originally Posted By MPierce >> I love the Smokey and the Bandit and Cannonball Run films (but then again, I have always been a closet redneck). << I knew it Dave. I bet you have a whole closet full of football jerseys, madris plaid shorts, and black socks, and sandals.
