Gulf Coast beach homes: 50 percent drop, still few takers; “Get me whatever you can get me”

As oil washes ashore, property managers sharply cut condo rents, Alabama Press-Register, June 13, 2010:

” We’re running less than a 50 percent occupancy, which is significantly less than this time last year.” …

June, July and early August net about 75 percent of the revenue resort property owners can expect, according to rental agencies.

“It will be a very difficult summer,” Bodenhamer said. “The problem is that even at those lower rates, we’re not getting near enough takers. Reservation calls have gone to a fraction of what they would normally be on a daily basis.”

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