“Conspicuous Leisure” was a term coined by American Economist Thorstein Velben.  Per Wikipedia: “The term denotes visible leisure for the sake of displaying social status. The term is generally reserved for those forms of leisure that seem to be fully motivated by social factors, such as taking long vacations to exotic places and bringing souvenirs back.”

It appears that we are shifting away from this “Conspicuous Leisure” and its parent, “Conspicuous Consumption”.  Yes, our retirement portfolios have taken a hit and it’s a lot more expensive to fly privately and to relax in fully stocked, wholly-owned pied-a-terres but I think it goes deeper than that.  Add the “Green” element – i.e. waste conservation et al – and conspicuous consumption just isn’t cool anymore.  To put it another way, I doubt John McCain is too thrilled about owning seven homes right now. 

What is cool?  Sharing is cool.  Fractional is now hybrid; it’s the Prius.  Sure, mega rich socialites in Hollywood could afford any gas guzzler of their choosing but that’s not cool to them.  It isn’t cool because it isn’t right.  Not only is it trendy to proclaim multiple second homes as waste dumps, it’s accurate.

Private Residence Clubs, the top shelf answer to fractional ownership, offer the best of both worlds; high-end vacation digs in a responsible fashion.  In most cases, the residences are ultra upscale, furnished as beautifully as your own home would be.  Owners are pampered as they would be in a five-star resort and typically the reservation system allows them to use the club as they choose.  BUT, the owners are sharing this real estate and conserving valuable resources, there is nothing un-cool about that. 

In just one Private Residence Club development a couple hundred boomers, Gen X’rs, Hollywood moguls and professional athletes can all enjoy the same high-quality accommodations and services as they would have with their own home.  No one has to watch several hundred acres of beach front being converted to enormous second home properties that sit empty for 48 weeks per year with the A/C running. 

A note to you socialites and pro athletes:  many (if not most) Private Residences Clubs will still offer the privacy you’re looking for.  Now you can have your gorgeous second home (or seven of them if you choose) without all of the extra cost, waste and un-cool conspicuous consumption that goes along with it.  A little (organic) food for thought.

Eric Pierce