whatever happened to affordable fast boats?

[powerabout]

Until the econ crashes and it cycles around again. More people will lose it all...Banks will profit. We have seen it many times.

seen it twice in ozzie, people move up the ladder with huge borrowing then interest rate goes up and then a crash, they lose a lifetime of equity, hand the keys back.
Its teetering on the brink now..
https://7news.com.au/business/financ...ike-c-10901554

[JPEROG]

You might want to listen the to some of the people that make it happen-not hope it happens or watch it happen....If you were to have asked me in 2020, I would have said no way will this train keep rolling hard into 2024 but guess what:

https://www.forexlive.com/news/goldm...y-35-20230606/

Joe

[mikesufka]

So if you have a small penis you can afford a better and bigger boat ? Got it.

MDS

[JPEROG]

I knew it had to be something other working hard, being smart and taking risk that makes all of these yachts appear.....Thanks for the insight-

Joe

[altamate]

I’m in Canada
Here they printed a lot of money during Covid and handed it out like candy, now we have inflation that they are trying to control with interest rates.

I remember something like this around 1980, by 1984 people were abandoning their homes to the banks because the mortgages were bigger than the house was worth.

I guess we will see if the current government can do a better job managing this than the one that was in place back then.

But I would not be in a rush to put a big deposit down on a home in a city with an inflated housing market while federal governments are raising interest rates. Some locations are far more likely to have market corrections than others but knowing which locations to avoid can be difficult if not impossible.

My Daughter and her husband live in San Jose(he works for Apple) with my two grand children, they just bought their first home in December of 2021 in the very very hot market that is there. I think they overpaid, they think the market has no place to go but up and it has some since they bought. I hope I am wrong but I think a correction is coming to that market because what you get for what you pay is not sustainable in my opinion.

The one saving grace is they have a 30yr. Mortgage at 2% so if he can keep his job they can pay for the house. But if there is a large correction they may not want to.(it is not a lot of fun paying off a 2 million dollar mortgage if the house you bought for 2.5 becomes worth only 1.5million)

[rjdubiel]

With that low interest they will be fine. The market will come back after the drop and they can weather the storm. If they just bought and had the 6.5-7.5% rates, maybe not! I drove to Winnipeg last week and I could not believe all the huge new neighborhoods going up with brand new houses!!!! Who is buying all these homes?

I was in the market for a new house but cannot stomach taking on a 30 year at 7% on 300-500K after a 30% down payment. I think we will stick with our 10 years left at 2% and look for a cabin of sort on a lake sooner or later when the rates drop and prices drop.

[JPEROG]

I hope for their sake that they make it through. The government is so screwed up in CA., (due to the citizens allowing it to be), that the state is losing population at a higher rate then ever. Like I have said in previous post, we all need shelter and when rents demand what they do today then it holds housing cost high as well. I am simply amazed that people have not stopped spending yet. We have had 10 (soon to be 11) consecutive rate hikes and people continue to spend everywhere other then Target, Kohls, and buying Bud Light--which is very nice to see that "we the people" are truly in control of their bottom lines and enough of us are paying attention to change it.

Joe

[Chaz]

So if you have a small penis you can afford a better and bigger boat ? Got it.

MDS

Who said anything about being able to afford it ...

More about ... gotta-hafta ..

[John S]

So if you have a small penis you can afford a better and bigger boat ? Got it.

MDS

Since the person that made that statement likes metaphors, it should probably be brought up that they have a big boat that doesn't run. Take that as you will. It does kind of connect the dots though, don't it?

[JPEROG]

Of the guys I know and boat with often, (2-37' Talons, 8-36' DWs, 5-32' DWs, 1-37' DCB, 4-39' MTIs, 1-44' MTI, several 34' MTIs and a bunch of Tri-toons), none of them have a loan.

Joe

[mikesufka]

Of the guys I know and boat with often, (2-37' Talons, 8-36' DWs, 5-32' DWs, 1-37' DCB, 4-39' MTIs, 1-44' MTI, several 34' MTIs and a bunch of Tri-toons), none of them have a loan.

Joe

Don’t wreck his wet dream Joe

MDS

[Brad Zastrow]

Of the guys I know and boat with often, (2-37' Talons, 8-36' DWs, 5-32' DWs, 1-37' DCB, 4-39' MTIs, 1-44' MTI, several 34' MTIs and a bunch of Tri-toons), none of them have a loan.

Joe

I 100% agree with this. All of our large boat friends own their boats outright.

[Chaz]

Ya'all looked down .. didn't ya ...

[altamate]

I 100% agree with this. All of our large boat friends own their boats outright.

Rich mans game, I can’t play, but I’m happy with what I have.

The issue is that even small boat ownership has become rather pricey, I didn’t buy my boat brand new, but very close to new. I’m not sure I could do it again with where prices have gone.

$30,000 in 2013.

How much is a 4-5 yr old 80mph 21 ft outboard today?

[Brad Zastrow]

The point is not how rich someone is, it is how smart they are. Toys I pay cash for, be it small boats or large boats. I started out with a CV18 Glasstron and paid for it.