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Old 26-05-2008, 21:34   #1
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Is the home real estate market in the US spilling over?

Hi,

I'm just curious if sailors in the US are noticing the used market for sailboats begin to show signs of softness? I know we have individuals from many different countries here and you may not be aware of the housing downturn the US is experiencing.

Now that I think about it there are probably numerous factors at work here. The dollars slide against other currency is making new boats more expensive, which may keep the used boat market fairly firm...

Just curious what others are seeing...
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Old 27-05-2008, 07:08   #2
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FWIW - The broker I spoke with last week told me that the power boat market has pretty much gone away outside of Texas. Lots of brokers in FL going broke as you might expect. In Port Aransas TX they don't deal with sail much so couldn't say how that segment is doing.

Seems that the oil profits are making their way down to the TX waterfront and the sportfish-selling business there is still doing OK.

It's nice to know that someone can afford $400 - $900 fuel bills for a day of fishing....
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Old 27-05-2008, 09:56   #3
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this might be informative:

Boating Industry Slump Could Signal Recession : NPR
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Old 27-05-2008, 11:50   #4
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From my conversation with brokers (I have a small sailboat for sale), power boats are starting to go the same way piston engine aircraft have gone, i.e. the fuel costs are significantly damaging values. I used to buy and sell small airplanes - as an example, the last airplane I sold for $120,000 would be selling for $60,000 today six years later. And aircraft used to hold their value pretty much, except for inflation.

Sailboats are holding their values ok. Older used sailboats have a solid market, newer used and brand new boats are experiencing some softness.

Just one datapoint, worth little, but FYI.

Kevin
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Old 27-05-2008, 12:06   #5
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All I know is that the boats (used) I am interested in (only a few) have not come down in the last year.
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Old 27-05-2008, 12:18   #6
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I know we have individuals from many different countries here and you may not be aware of the housing downturn the US is experiencing.
Oh we know about it in the UK. Our incompetent government is trying to use it as an excuse for all the problems they have caused all by themselves.
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Old 27-05-2008, 12:34   #7
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all I know is I had a powerboat with 90 HP outboard 10 years ago and cringed everytime I stopped at the fuel pump. that was when gas was 2.00 a gallon.
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Old 27-05-2008, 16:10   #8
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Therapy, do you mean the asking price has not come down? Try some low ball offers, you might be surprised.
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Old 27-05-2008, 17:40   #9
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Therapy, do you mean the asking price has not come down? Try some low ball offers, you might be surprised.
Yes,
I would begin low-balling if the wife would get on board.
She says, "It is not the right time yet."
She is right about selling the house now. When I said we needed to sell it two years ago she said "NO".

My plan is to see what happens between now and Dec, or maybe Dec of 09. If I do not like what is happening then, I will do something pretty crazy. Everyone that might need to know has been warned.
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Old 28-05-2008, 06:05   #10
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I have a feeling that home values will not hit bottom before at least the end of the year. I would guess the boat market will be in the same ball park. It's (always) a buyer's market.
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Old 28-05-2008, 09:12   #11
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I have a feeling that home values will not hit bottom before at least the end of the year. I would guess the boat market will be in the same ball park. It's (always) a buyer's market.
It is od but since the dollar has dropped in value we are getting more inquires and sales from the states than ever before so maybe with the rising inflation people rather invest in pleasure that in real estate or stocks and bonds.
I do not know what triggers this demand but gunboat has the same and Robertson and Caine are tripling their production in the next years ?????
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Old 28-05-2008, 10:01   #12
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About 1/4 million home foreclosures in April alone in the US. Maybe some of those folks are looking for a place to live on FastCat's boats.
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Old 28-05-2008, 11:08   #13
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Sold the house in Florida (just on time!!) Bought a Catamaran.
At least no property tax to pay!
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Old 28-05-2008, 11:39   #14
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It is od but since the dollar has dropped in value we are getting more inquires and sales from the states than ever before so maybe with the rising inflation people rather invest in pleasure that in real estate or stocks and bonds.
I do not know what triggers this demand but gunboat has the same and Robertson and Caine are tripling their production in the next years ?????
Greetings
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We have a widening disparity of income in this country, and while the majority are worse off than they were 10 years ago, the top 10% of the income bracket (Your customers) are having the time of their lives. Not to mention with all the baby boomers retiring, you should be selling boats for quite a few years.
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Old 28-05-2008, 11:45   #15
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There should be European buyers looking for everything from boats to realestate in the US. With the dollar/euro ration 1.5-1, anything in the US should be a bargain for them.

A down realestate market means home values have dropped. That along with the increased difficulty in getting refi' loans makes the capital to buy a boat harder to obtain. Know I wouldn't have been able to get the money to buy our boat as easily as it was a couple of years ago.

The indeterminate direction of the economy has made people cautious in buying toys and large capital expenditures. That's not good for the realestate or boat market.

Anyone want a cute house in one of the best neighborhoods in Kalamazoo, MI??

Aloha
Peter O.
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