Thursday, April 23, 2009

Banks Interested In Taking Than Giving

I still remember my friend trying desperately to get a loan. He has applied for many big banks and also the small ones; and every time he got the same answer to his application form – “rejected”

It’s not only the case with just my friend. Many others were rejected for no good reason. They had good intentions towards spending the money; and some were with urgent requirement of financial aid. But, still none of the banks responded positive towards people. It is a fact that banks have reduced giving loans to people and businesses.

I understand their situation if they might have been in serious conditions of financial crisis. But these were the same banks, which received huge bailouts from the government. And where did government get this money to give them their bailout?

From us of course!

The money we pay in taxes to the government is redirected to banks and other businesses in form of bailouts and financial aids. But they are not even concerned about our dilemmas. They cut jobs as many as they want, they reject loan applications as they like and we have no government on our side to support us.

Wednesday, April 22, 2009

20 Percent Decline In Vacation Home Rental Prices

Don’t be surprised if you see lower vacation home rental prices at some place in US, than the previous year’s. In fact, you have every right to ask for a rebate in vacation home rents, if you have gone to some vacation place with your family.

Demand and price are often related to each other. The more is the demand, so higher is the price. When the demand declines, the price should also come down.

This strategy applies to all the products that you are able to get in discounts and rebates these days. These include the vacation home rentals too.

Summer has arrived in some places already and so are the vacations. But many people are planning to celebrate their vacations in their homes itself. The recession and the meltdown, is obviously the main reason for this.

This resulted in lower demand to tourism spots and vacation rental homes. Landowners had no choice except to lower their rental prices by 20%.