Quote:
Originally Posted by Biggd
When there's a recession the boat loan is the first this to take a hit. We don't know when that will be but it will happen.
Even if you own the boat outright, if money is tight, it doesn't go in the water and slips become available.
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About 20 years ago, when the economy was in a slump, there were about 10 slips at Mountain View that were vacant for the whole season.
At that time over half of the people who owned slips rented them out instead of using them. I do not know what the number of sips rented VS used by their owners is now.
The economy is cyclical. However, what if you sit on the sidelines waiting for the next downturn to get a good deal and it never comes?