Snow joke

The attraction of ski and snowboarding destinations could fall as consumers look to reduce their outgoings in the credit crunch, it has been claimed...

UK-based travel firm International Property Tribune has suggested that visits to destinations throughout the US and Europe are to decrease during 2009.

"It's the City of London and Wall Street bunch who take a week's ski holiday in France or the US that are going to be cutting back their spending in the coming months," the firm explained, adding that many see travelling to a ski destination as a luxury rather than a necessity.

This may make overseas property investors who have been considering making purchases at ski resorts to think twice about doing so, as they may see a shortage of potential tenants during the skiing seasons.

Those who have been looking at purchasing ski property in the US and are planning to continue to do so may find it easier to obtain a mortgage after the Federal Reserve reduced the country's federal funds rate.

Source: www.propertyshowrooms.com