Ordutch1975
New member
Recessions start in southern California and make their way slowly across the nation. Contrary to the news higher end home prices are dropping over here and based on feedback from peers in my industry things are slowing down on the west coast. My real estate agent would agree the days of 6 day closes are behind us higher end homes are taking 6-12 mo to sell. I have seen prices drop by 50-100k on houses costing 600+k (or non gov backed loans). I read recently auto loan credit is drying up for people with blemishes on their records due to increased repos thus hurting new car sales. Anyways per my local c-dory dealer he too feels boat sales have slowed in our market in the last 12 mo.
I think this process will be slower but I do believe we are heading into headwind with increased borrowing costs and more stringent lenders. And I don't think it's a bad thing. For savers like myself low interest rates are a disaster.
As to aluminum boats I agree in the PNW they have taken a bite out of the pie. NorthRiver and others have been producing some very nice boats with ever more creature comforts and with better technologies have eroded some of the fiberglass benefits. They are also very sales/volume driven businesses.
My 2 cents,
Harald
I think this process will be slower but I do believe we are heading into headwind with increased borrowing costs and more stringent lenders. And I don't think it's a bad thing. For savers like myself low interest rates are a disaster.
As to aluminum boats I agree in the PNW they have taken a bite out of the pie. NorthRiver and others have been producing some very nice boats with ever more creature comforts and with better technologies have eroded some of the fiberglass benefits. They are also very sales/volume driven businesses.
My 2 cents,
Harald