It is having a huge impact on our cruising plans.... but whether that impact proves positive or negative is still to be seen.
I own a mortgage company. Or perhaps it would be more accurate to say I DID own one.... technically I still do, but we have not close a loan since June and the market is as dead as dead gets.
Based on that.... and my belief that we are currently in the 2nd inning of a long 9 inning full blown depression.... we are pushing up our cruising plans. We had planned on cutting the dock
lines in September of 2009. Now we are looking at late next summer... ASAP.
I have switched my business focus from the mortgage business to real estate investing. Banks swamped with foreclosure properties and desperate to unload are selling homes at STUPID prices. I have been buying
these, renovating them and then renting
them out. The cash flow is fantastic ($800 in rent on a $60K total house investment) so this will actually help generate cash flow for us to live on aboard the boat. I currently own 8 such homes and though I am selling several I expect to have a net monthly income
next summer from these rentals of around $3K a month.... not enough to support us living as we do on land but enough if we are living on the boat. AT least I hope so.
So, LOTS of uncertainty and worry but we are pushing forward with a plan and when I take my emotions out of what is happening and I look at it in a cold, hard, objective manner I do tend to see more upside than downside risk on the real estate we are buying
so HOPEFULLY things will work out.