Business Insider30 Sept 2026James Rodriguez

Vacation homes were once real estate's hottest play. Now they're a nightmare.

John Kenney is the second real estate agent to take a stab at selling 317 Matterhorn Drive, a rustic, two-bedroom cabin in Gatlinburg, Tennessee.

Instead, it's withered on the market for two years.

The home has seen a steady drip of price cuts and relistings since January 2024, when it debuted at $850,000. The owners are now asking for just under $600,000, a decrease of nearly 30%. "NEW PRICE, BIG MOUNTAIN ENERGY!" the listing reads.

"We're just chasing the market at this point," Kenney tells me.

Vacation homes like this one were once chum in the water for hungry Airbnb investors or flush retirees looking for part-time getaways.

Read the full story at Business Insider

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Vacation homes were once real estate's hottest play. Now they're a nightmare.

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