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Second Homes
For some, the downturn equals real estate opportunity. But if you're not quite ready to commit to that second home mortgage, consider fractional ownership, which consists of several people co-owning and dividing up use of a holiday home. This cuts down upfront costs and is, in the long run, cheaper than renting. Options include a private-residence club like the Fairmont Heritage Place in Dubai, set to open in 2010, where 50 properties will each be divided into 10 fractions.