Join Date: Dec 2007
Thanked 3 Times in 3 Posts
Rep Power: 8
Re: "Buyer's Market" - any data to back it up?
Hi John B, I think you're right, the market has firmed up, but just slightly. The economic environment has stabilized for the moment. Inflation is steady at three times the rate officially claimed. No sudden surprises in the market for the moment. All quiet, tends to calm fear, the biggest thing driving "just dump it " sales. I expect this to change after the elections. There are cuts to the assorted give away programs and tax hikes rolling down the pike. Pell grants may be ending and quite a few boats should hit the market to pay for the kid's college, for one example. The broad economic indicators seem to point to stagnation rather than robust growth. I believe further " digging in " will be the reaction of folks who are on the fence between money to burn and the folks who must cut back. This fall and next spring should have a modest rise in boat prices. It will be tempered by the fact there will be no growth in take home pay to compensate for the 8 3/4 % inflation during that same time frame. So while there may be some initial growth in boat prices, I don't think that it will be sustainable into the fall, a year from now. A year from now I expect the deals, for those who make the leap, should be off about 8% to 10% of what they are now. Which, adjusted for inflation, means the prices will be exactly the same, but the dollar will be worth about 10% less. I hope that made sense.
"Ulysses" - Alfred Tennyson