Cruisers Forum
 


Reply
  This discussion is proudly sponsored by:
Please support our sponsors and let them know you heard about their products on Cruisers Forums. Advertise Here
 
Thread Tools Search this Thread Rate Thread Display Modes
Old 17-11-2007, 13:53   #1
cruiser

Join Date: Aug 2005
Location: No longer post here
Boat: Catalac Catamaran
Posts: 2,462
biggest slowdown in almost 20 years ?

I read this today: Are things this bad in the boat industry?

Marine industry taken off guard?

"............The problem with this latest downturn is that it came upon us so slowly that it caught a lot of people, including the marine industry, off guard. Perhaps there were some early warning signs it was coming, but because it wasnít a crisis there was no immediate need for action.
Now the downturn is upon us Ė some are saying the marine industry is suffering from the biggest slowdown in almost 20 years Ė and people are wondering how we got here. Itís like a drought that takes years to develop; by the time you realize thereís a crisis itís almost too late to do anything about it......"

From:

Trade Talk Ľ Blog Archive Ľ Marine industry taken off guard?
Tropic Cat is offline   Reply With Quote
Old 17-11-2007, 15:03   #2
Registered User
 
Therapy's Avatar

Join Date: Jul 2007
Location: W Florida
Boat: Still have the 33yo Jon boat. But now a CATAMARAN. Nice little 18' Bay Cat.
Posts: 7,079
Images: 4
To me it was pretty simple to see.
Boating follows housing.
Always has.
Therapy is offline   Reply With Quote
Old 17-11-2007, 17:25   #3
֍֎֍֎֍֎֍֎֍֎

Join Date: Apr 2006
Posts: 15,133
Not surprising. With the junk mortgage market bursting and the stock market plunging--and still very shaky--the market for all luxury goods especially the big ticket ones, will be tanking.

Which is another reason why looking at historical prices for used boats is a very uncertain way to determine value, you need to account for where the economy was in any given year and "add salt" to read what the sale prices really meant.

"Perhaps there were some early warning signs it was coming," Only if someone was astute enough to be saying "Ya know, sooner or later all these foreclosures are gonna add up to a market crash." And doubtless SOME of the pros were.
hellosailor is offline   Reply With Quote
Old 17-11-2007, 17:51   #4
Moderator Emeritus
 
David M's Avatar

Cruisers Forum Supporter

Join Date: Sep 2007
Location: Eastern Tennessee
Boat: Research vessel for a university, retired now.
Posts: 10,406
Boats are luxury items. Any economic downturn kills luxury item manufacturers. This twenty year thing sounds like an exaggeration though.
__________________
David

Life begins where land ends.
David M is offline   Reply With Quote
Old 20-11-2007, 00:57   #5
Registered User
 
Celestialsailor's Avatar

Join Date: Nov 2006
Location: Back in Northern California working on the Ranch
Boat: Pearson 365 Sloop and 14ft.Whitehall pulling skiff.
Posts: 10,245
Images: 5
This is only the beginning. I'm not sure that we will see any light in the economy at least until mid 2009. We have been through hard times before in the 80's and 90's. Seems we never learn our lessons but I will not get political on this one. Suffice it to say, it is an excellent time to weigh anchor and cruise until the winds change...so to speak.
__________________
"Life is not a journey to the grave with the intention of arriving safely in a pretty and well-preserved body, but rather to skid in broadside, thoroughly used up, totally worn out, and loudly proclaiming: Wow - what a ride!"
Celestialsailor is offline   Reply With Quote
Old 20-11-2007, 16:38   #6
Registered User
 
Therapy's Avatar

Join Date: Jul 2007
Location: W Florida
Boat: Still have the 33yo Jon boat. But now a CATAMARAN. Nice little 18' Bay Cat.
Posts: 7,079
Images: 4
I have been told that there has not been a down market in any presidential election year.
I think it is true.
I also cannot decide if next year will be the first one to occur.
Tough choice for me.
Therapy is offline   Reply With Quote
Old 20-11-2007, 17:36   #7
Registered User
 
Celestialsailor's Avatar

Join Date: Nov 2006
Location: Back in Northern California working on the Ranch
Boat: Pearson 365 Sloop and 14ft.Whitehall pulling skiff.
Posts: 10,245
Images: 5
I promised not to be political....but. We were in a recession when Clinton took office from Bush Sr.
__________________
"Life is not a journey to the grave with the intention of arriving safely in a pretty and well-preserved body, but rather to skid in broadside, thoroughly used up, totally worn out, and loudly proclaiming: Wow - what a ride!"
Celestialsailor is offline   Reply With Quote
Old 20-11-2007, 19:03   #8
Registered User
 
Yotboss's Avatar

Join Date: Jun 2007
Location: San Diego/Mexico
Boat: TPI Lagoon 42
Posts: 63
Images: 9
Quote:
Originally Posted by Celestialsailor View Post
We were in a recession when Clinton took office from Bush Sr.

Yes we were - and remember the luxury tax on boats that just killed the industry? Hard to imagine it could get worse than that...
Yotboss is offline   Reply With Quote
Old 20-11-2007, 22:06   #9
cruiser

Join Date: Aug 2005
Location: No longer post here
Boat: Catalac Catamaran
Posts: 2,462
There's a lot of uncertainy about this downturn. There seem to be two groups of experts. One says everything is going just fine and the other says we are in for a rough couple of years.

From my professional standpoint, what's going on in the financial markets is unprecedented. I'm not sure what's coming, but I have a feeling I'm not going to like it.
Tropic Cat is offline   Reply With Quote
Old 21-11-2007, 00:11   #10
Moderator Emeritus
 
Ex-Calif's Avatar

Cruisers Forum Supporter

Join Date: May 2007
Location: Ohio
Boat: Now boatless :-(
Posts: 11,580
Images: 4
Just remember. A recession becomes a depression when "you" lose "your" job - LOL.
__________________
Relax Lah! is SOLD! <--- Click
Click--> Custom CF Google Search or CF Rules
You're gonna need a bigger boat... - Martin Brody
Ex-Calif is offline   Reply With Quote
Old 21-11-2007, 00:55   #11
Registered User
 
Celestialsailor's Avatar

Join Date: Nov 2006
Location: Back in Northern California working on the Ranch
Boat: Pearson 365 Sloop and 14ft.Whitehall pulling skiff.
Posts: 10,245
Images: 5
Quote:
Originally Posted by Ex-Calif View Post
Just remember. A recession becomes a depression when "you" lose "your" job - LOL.
Well...The best solution for depression is to weigh anchor and go sailing!
__________________
"Life is not a journey to the grave with the intention of arriving safely in a pretty and well-preserved body, but rather to skid in broadside, thoroughly used up, totally worn out, and loudly proclaiming: Wow - what a ride!"
Celestialsailor is offline   Reply With Quote
Old 21-11-2007, 11:00   #12
Registered User
 
senormechanico's Avatar

Join Date: Aug 2003
Boat: Dragonfly 1000 trimaran
Posts: 7,011
Quote:
Originally Posted by rickm505 View Post
There's a lot of uncertainy about this downturn. There seem to be two groups of experts. One says everything is going just fine and the other says we are in for a rough couple of years.

From my professional standpoint, what's going on in the financial markets is unprecedented. I'm not sure what's coming, but I have a feeling I'm not going to like it.
Agreed. See the thread about "Value of the Dollar".

Steve B.
senormechanico is offline   Reply With Quote
Old 21-11-2007, 11:15   #13
Moderator Emeritus
 
David M's Avatar

Cruisers Forum Supporter

Join Date: Sep 2007
Location: Eastern Tennessee
Boat: Research vessel for a university, retired now.
Posts: 10,406
Quote:
Originally Posted by Celestialsailor View Post
I promised not to be political....but. We were in a recession when Clinton took office from Bush Sr.
So many factors other than the Presidency determine the state of an economy that to blame or credit a President for the state of an economy is ridiculous. Congress if anything is to accept the blame or credit...they are the ones who decide how much and what is to be taxed and how the money is to be spent. All in all though....both are relatively minor in the big picture, especially now that the worlds economies are tied to each other.
__________________
David

Life begins where land ends.
David M is offline   Reply With Quote
Old 21-11-2007, 12:35   #14
cruiser

Join Date: Nov 2004
Posts: 4,525
Quote:
Originally Posted by rickm505 View Post
There's a lot of uncertainy about this downturn. There seem to be two groups of experts. One says everything is going just fine and the other says we are in for a rough couple of years.

From my professional standpoint, what's going on in the financial markets is unprecedented. I'm not sure what's coming, but I have a feeling I'm not going to like it.

Agreed. The Wall St is in a state of "fluctuation" and has not decided on an advance or decline. I would disagree that we haven't seen this type of market in the past, though.

The only thing that seems unprecedented is the falling dollar in combination with the stagnant stock market in combination with the lending problems in combination with global trade in combination with energy costs. ha ha ha

Seriously... that's what's unprecedented. Most of these things have happned one or another at a time, but this time they're all coming at us at once.

Makes a tough call right this second on what to do with your investment $$. I've been working on that issue all day. It's a nasty one.

We've got a few financial experts on here. I sure would love to hear their takes just to see if I'm heading in the right direction with where to park my funds until the market declines and I can buy some cheap stocks. Any tips out there?

PS: Presidents are puppets/figureheads these days. They have very little to do with anything, but put a public face on the "administration" and what groups are in power/favor.
ssullivan is offline   Reply With Quote
Old 21-11-2007, 12:44   #15
Registered User
 
Brandywine's Avatar

Join Date: May 2007
Location: Napa, CA
Boat: Shopping for catamaran
Posts: 76
heck if the number of boats on the used boats market increases and the number of new un sold new boats increases and all of this would pushes price down it would be a good thing for people looking to buy and might help off set the loss of value in the dollar.
Brandywine is offline   Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
It's Been a Long Ten Years! Esconditas Meets & Greets 8 18-05-2009 10:08
2 years planning, 2 years sailing...was it worth it? ABSOLUTLY!!! kingfish General Sailing Forum 14 19-04-2009 16:35
BIGGEST FISH Keegan General Sailing Forum 17 23-10-2007 07:42
Invitation 3.5 years later - 3 weeks to launch By Invitation Construction, Maintenance & Refit 5 09-05-2007 19:58

Advertise Here


All times are GMT -7. The time now is 15:41.


Google+
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2023, vBulletin Solutions, Inc.
Social Knowledge Networks
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2023, vBulletin Solutions, Inc.

ShowCase vBulletin Plugins by Drive Thru Online, Inc.