Slips and valet for 2021 tight market?

[Biggd]

Originally Posted by camp guy

A few years ago the ski industry was overrun with slope-side ski in-ski out condos, then the economy changed, and these extremely overpriced condos were on the market at "give-away" prices. Is the boating industry in danger of following in these footprints? To what extent is COVID driving some of this increase in boating and dock usage, and, when society is back to the pre-pandemic level of activity, what will be the activity level then?

I don't have a boat or a dock, I don't live on the Lake, and I am not an economist.

When there's a recession the boat loan is the first 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.

[TiltonBB]

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.

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?

[TheTimeTraveler]

Originally Posted by TiltonBB

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?

I don't think it's a question of if it will come, but a question of when it will come.

Looking at history, downturns have occurred in the last 34 years in 1987, 2001, 2007, and 2020. Some have been brief (2020), others have been long (2007).

Terrorism caused the 2001 setback, and Covid caused the very brief 2020 setback. Who knows what's next around the corner!

Just have your checkbook ready to go!