I am in the same situation. My "part of the world" is the Northeast, even going down to FL in the USA. I have a broker who had done me right in finding my first boat. He was very good at analyzing your needs and then sifting through listings to find the right fit at the right price. This worked when I was purchasing
a coastal cruiser.
Now that I'm looking at blue water
cruisers (or at least Caribbean
capable) he can't find me anything I don't see on Yachtworld.
Regarding inflation, I wholeheartedly agree. It seems as though the recession and 9/11 drove down wages for many people (myself included) while inflation has been going on everywhere. Basically, it looks like it is costing more to cruise
now (when you consider average salaries) than it ever has. (see below regarding cars... and then compare car prices to boat prices)
It's pretty hard to come by $100K these days. It takes quite a few years to save up no matter how little you spend on land-life requirements such as transportation and clothing
. The crazy thing is you need $100K to buy a reasonably safe boat to cruise
Right now, we are looking at boats in the $60K (or more likely) $50K area because we simply can't muster up savings fast enough, and loans are not a great idea when cruising.
---An Interesting Excercise in Evaluating the American Standard of Living 1971 to 2000-----
In 1971, the average cost of a car in the U.S. was $3,430.
In 2000, the average cost of a car in the U.S. was $24,730.
(this article is the source of this data. Its source is the National Automobile dealers' Association.)
Adjusted for inflation to the year 2000 (using this calculator), the car in 1971 cost about $14,700.
So the price of the average car in 2000 is 7.2 times greater than the
price of the average car in 1971 in absolute dollars, and about 1.7
times greater in inflation-adjusted dollars.
There are two ways to look at what has happened to wages.
1. In 1971, the minimum wage was $1.60. In 2000 it was $5.15. So it rose
by a factor of 3.2 in absolute dollars. In inflation-adjusted dollars,
the minimum wage actually fell. Since the minimum wage acts as the foundation of the wage scale for the 80% of Americans who work in non-supervisory jobs, this is important. If the minimum wage is not rising, chances are that their wages are not rising either.
2. If you look at the "Average hours and earnings of U.S. production workers" in the World Almanac (whose data came from the U.S. Dept. of Labor), the average wage of a production worker was $127.31 per week in 1971, and $456.78 in 1999. In absolute dollars it rose by 3.58 times (roughly the same as minimum wage), but in inflation-adjusted dollars it also fell.
If you multiply $127 by 52 to get an annual wage in 1971, an average worker in 1971 made $6,620, or roughly two average cars per year.
If you multiply $456 by 52 to get an annual wage in 2000, a worker in
2000 made $23,750, or roughly one average car per year.
In other words, if cars are the measure, an average worker in 2000 can
buy only one half of what an average worker in 1971 could, in terms of
If cars are the measure, the standard of living of a typical American worker -- 80% of the population -- fell by 50%.
Do you know how they slipped this one by us? When women went to work outside of the home, it reduced the amount of money
each worker needed to make to support the household. Companies were able to pay half what they used to, since each household has two incomes in this case. This turn of events
lead to record
corporate profits and a greatly increased productivity, since companies now have 2 workers for the price of one. We, the workers were shortchanged.
Gord... go ahead and delete this if it's too far off topic...
I just had to put in my 2 cents after inflation was brought up as it relates to blue water
cruising. It's very close to out of reach for us Gen X and younger people.