Always in search for the real data on the US economy (e.g. food stamps, crime tips for cash), I found this one in the NY Times: recreational boat repos are surging.
Mr. Henderson has been a boat repo man for 20 years and has never been busier than right now. “I used to take the weak ones,” he said. “Now I’m taking the whole herd.” He is repossessing a boat a day.
Just like with houses, many boat owners are finding themselves "upside-down" on their boat loans. With fuel costs soaring, used boat prices are tumbling as fewer and fewer can afford a spin in the water. To make things worse, typical loan amortization schedules result in little principal being paid off in the first years.
A Beautiful Piece of Collateral As It Attempts To Flee The Repo Man
Like I've always said, the best boat is your buddy's boat. Next best is the one you rent by the day or week. And third best is the one you buy at the repo man's sale.
Just like with houses, many boat owners are finding themselves "upside-down" on their boat loans. With fuel costs soaring, used boat prices are tumbling as fewer and fewer can afford a spin in the water. To make things worse, typical loan amortization schedules result in little principal being paid off in the first years.
A Beautiful Piece of Collateral As It Attempts To Flee The Repo ManLike I've always said, the best boat is your buddy's boat. Next best is the one you rent by the day or week. And third best is the one you buy at the repo man's sale.
That boat sure looks like it burns a whole lot of fuel; I hope its owner isn't taking it out for a solo spin, that would be wasteful.
ReplyDeleteOnce the auctions start to stall in the US, most of these boats will have to be exported.
Having owned power boats since the 1960s, I know that used fiberglass boats never go away. In the old days, wood boats rotted and were junked. As such, the oversupply in used boats is enormous. The market for these whales makes the real estate market look benign. In some cases, an owner can't even give the boat away.
ReplyDeleteHappyest days of a boat owners life: The day they buy and the day they sell.........
ReplyDeleteThere are boat clubs allowing unlimited boat usage (gas is extra of course) at a fraction of the cost of actual ownership.
ReplyDeleteEven better, the clubs are all over the US. When you travel (to say Florida from DC), you can use the Florida chapter's boats for free. A number of my friends belong and love the club. The ratios are something like 10 members per boat-- more than enough boats for every day of the year except July 4.
I wonder how the clubs are doing in this recession?
A boating acquaintance of mine who saw the writing on the wall 3 years ago picked up a sail boat back then. It was relatively cheap even then. Of course, since most drunk nitwits on the lake don't know how to sail it looks like the water may get a lot less crowded for those who can.
ReplyDeleteGotta love wind power in all its manifestations.
In Seattle moorage is outrageous. Maybe some docks will get foreclosed on soon.....
ReplyDeleteMarket down today because of price inflation? have we reached the Bernanke bind, where he has to stop cutting for fear of inflation?
ReplyDeleteI doubt it, Bernanke and the whole federal government will do anything to avoid a collapse before the election.
I sold my boat in 1964. Foresight, eh?
ReplyDeleteYou and Financial Armageddon have the exact same post up. What are the odds?
ReplyDeleteThe Armageddon Armada has sailed..
ReplyDeleteRight on Yoyomo. Power boats are THE most inefficient form of transport ever invented. Sail will rule again. It'll be great!
ReplyDeleteCan you imagine! The romance of sail...Modern vessels...Great weather forcasting and course plotting...use the same technology as the round the world race boats.
To get a cheap passage you can crew. It will be a whole new era in travel. Imagine being a backpacker on your OE and getting on a sailing ship....
Airports were cool and dynamic but imagine sailing ships. Its no coincidence that singles cruises are popular... the gentle rocking of the boat, a fresh sea breeze, a new friend. Oh I wish I were 23 again. Or am I getting ahead of myself perhaps I would need to be 3 to actually be around at the right time to enjoy the new era.
Ports will be revitalized and the new focus for cities. I can't wait.
Most of these repo'd boats will be sold in Brazil and Venezula, and some in Dubai and other Middle East countries where the demand is high and the fuel is cheap. Like 17cents a gallon cheap.
ReplyDeletecollege party dates -
ReplyDeletecollege teens bookbang -
cumfiesta -
cum filled panties -
dana lightspeed -
deep throating blowjobs -
dirty aly -
dirty schoolgirl -
easy drunk girls -
ebony love line -
erica lightspeed -
euro fuck toys -
euro masturbation -
euro sex parties -
evitas playhouse -
extra big dicks -
extreme asses -
extreme naturals -
facial humiliation -
faith lightspeed -
female pov -
first time auditions -
giants black meat white treat -
gigi lightspeed -
heather lightspeed -
heels and hoes -
her first throatjob -
hood hunter -
horny spanish flies -
housewives in action -
im live -
in focus girls -
in the vip -
i spy camel toe -
jordan capri -
lacey white -
latin love line -
lesbian teen hunter -
lesbo 101 -
lightspeed 18 -
lightspeed dvds -
lightspeed girls -
lightspeed sorority -
lightspeed tv -
lightspeed university -
lightspeed world -
little troublemaker -
lonely wives dating club -
mandy lightspeed -
man hookups -
meaty man movies -
men over 30 -
mike in brazil -
mikes apartment -
milf challenge -
milf hunter -
milf lessons -
milf next door -
milf whore -
moms creampie -
monsters of cock -
mr big dicks hot chicks -
mr chews asian beaver -
mr skin -
nikki grinds -
ox pass -
panties and fannies -
papi -
pimp my black teen -
please bang my wife -
public invasion -
pussy ass mouth -
rachel 18 -
rainbow vip -
real brazil hardcore -
reality kings -
reality pass plus -
ronni tuscadero -
round and brown -
round mound of ass -
sammy4u -
sapphic erotica -
see her gag -
see her squirt -
she got switched -
she takes it black -
shocking parties -
stacy bride -
street blowjobs -
street ranger -
sweet devon -
tawnee stone -
taylor little -
teen movie zone -
teeny bopper club -
terry lightspeed -
tgirl adventures -
tgirl island -
tgirls on girls -
the big swallow -
throat jobs -
tinys black adventures -
tranny surprise -
true twinks -
tug jobs -
vaginal cumshots -
vip crew -
we live together -
wild hot dates -
wives exposed -
xxx proposal -
xxx raimi -
pornstar legends -
8th street latinas -
18 interracial -
adult dating friends -
adult friend finder -
adult love line -
adult movie zone -
all big cocks -
all reality pass -
all sites access -
a lucky stranger -
anal destruction -
ashley lightspeed -
asian love line -
ass parade -
ass to mouth angels -
bait bus -
ball honeys -
bangbros network -
bang bus -
bang match -
bare foot maniacs -
barely legal -
big and slutty -
big cock teen addiction -
big league facials -
big mouthfuls -
big naturals -
big tit patrol -
big tits round asses -
bikini hookups -
black cocks tiny teens -
boys first time -
boys gone bad -
brandi belle -
brandy didder -
britney lightspeed -
bruno b -
busty adventures -
captain stabbin -
casting couch teens -
circle jerk boys -
coeds need cash -
college party dates -
college teens bookbang -
cumfiesta -
cum filled panties -
dana lightspeed -
deep throating blowjobs -
dirty aly -
dirty schoolgirl -
easy drunk girls -
ebony love line -
erica lightspeed -
euro fuck toys -
euro masturbation -
euro sex parties -
evitas playhouse -
extra big dicks -
extreme asses -
extreme naturals -
facial humiliation -
faith lightspeed -
female pov -
first time auditions -
giants black meat white treat -
gigi lightspeed -
heather lightspeed -
heels and hoes -
her first throatjob -
hood hunter -
horny spanish flies -
housewives in action -
im live -
in focus girls -
in the vip -
i spy camel toe -
jordan capri -
kinky lesbo -
lacey white -
latin love line -
lesbian teen hunter -
lesbo 101 -
lightspeed 18 -
lightspeed dvds -
lightspeed girls -
lightspeed sorority -
lightspeed tv -
lightspeed university -
lightspeed world -
little troublemaker -
lonely wives dating club -
mandy lightspeed -
man hookups -
meaty man movies -
men over 30 -
mike in brazil -
mikes apartment -
milf challenge -
milf hunter -
milf lessons -
milf next door -
milf whore -
moms creampie -
monsters of cock -
mr big dicks hot chicks -
mr chews asian beaver -
mr skin -
nikki grinds -
ox pass -
panties and fannies -
papi -
pimp my black teen -
please bang my wife -
public invasion -
pussy ass mouth -
rachel 18 -
real brazil hardcore -
reality kings -
reality pass plus -
ronni tuscadero -
round and brown -
round mound of ass -
sammy4u -
sapphic erotica -
see her gag -
see her squirt -
she got switched -
she takes it black -
shocking parties -
stacy bride -
street blowjobs -
street ranger -
sweet devon -
tawnee stone -
taylor little -
teen movie zone -
teeny bopper club -
terry lightspeed -
tgirl adventures -
tgirl island -
tgirls on girls -
the big swallow -
throat jobs -
tinys black adventures -
tranny surprise -
true twinks -
tug jobs -
vaginal cumshots -
vip crew -
we live together -
wild hot dates -
wives exposed -
xxx proposal -
xxx raimi -
pornstar vod -
8th street latinas -
18 interracial -
adult dating friends -
adult friend finder -
adult love line -
adult movie zone -
all big cocks -
all reality pass -
all sites access -
a lucky stranger -
anal destruction -
ashley lightspeed -
asian love line -
ass parade -
ass to mouth angels -
bait bus -
ball honeys -
bangbros network -
bang bus -
bang match -
bare foot maniacs -
barely legal -
big and slutty -
big cock teen addiction -
big league facials -
big mouthfuls -
big naturals -
big tit patrol -
big tits round asses -
bikini hookups -
black cocks tiny teens -
boys first time -
boys gone bad -
brandi belle -
brandy didder -
britney lightspeed -
bruno b -
busty adventures -
captain stabbin -
casting couch teens -
circle jerk boys -
coeds need cash -
college party dates -
college teens bookbang -
cumfiesta -
cum filled panties -
dana lightspeed -
deep throating blowjobs -
dirty aly -
dirty schoolgirl -
easy drunk girls -
ebony love line -
erica lightspeed -
euro fuck toys -
euro sex parties -
evitas playhouse -
extra big dicks -
extreme asses -
extreme naturals -
facial humiliation -
faith lightspeed -
female pov -
first time auditions -
giants black meat white treat -
gigi lightspeed -
heather lightspeed -
heels and hoes -
her first throatjob -
hood hunter -
horny spanish flies -
im live -
in focus girls -
in the vip -
i spy camel toe -
jordan capri -
kinky lesbo -
lacey white -
latin love line -
lesbian teen hunter -
lesbo 101 -
lightspeed 18 -
lightspeed dvds -
lightspeed girls -
lightspeed sorority -
lightspeed tv -
lightspeed university -
lightspeed world -
little troublemaker -
lonely wives dating club -
mandy lightspeed -
man hookups -
meaty man movies -
men over 30 -
mike in brazil -
mikes apartment -
milf challenge -
milf hunter -
milf lessons -
milf next door -
milf whore -
miss mya -
moms creampie -
monsters of cock -
mr big dicks hot chicks -
mr chews asian beaver -
mr skin -
nikki grinds -
ox pass -
panties and fannies -
papi -
pimp my black teen -
please bang my wife -
public invasion -
pussy ass mouth -
rachel 18 -
real brazil hardcore -
reality kings -
reality pass plus -
ronni tuscadero -
round and brown -
round mound of ass -
sammy4u -
sapphic erotica -
see her squirt -
she got switched -
shemale hookups -
she takes it black -
shocking parties -
stacy bride -
street blowjobs -
street ranger -
sweet devon -
tawnee stone -
taylor little -
teen movie zone -
teeny bopper club -
terry lightspeed -
tgirl adventures -
tgirl island -
tgirls on girls -
the big swallow -
the pipe layer -
throat jobs -
tinys black adventures -
tranny surprise -
true twinks -
tug jobs -
vaginal cumshots -
vip crew -
we live together -
wild hot dates -
wives exposed -
xxx proposal -
xxx raimi -
pov fantasy -
8th street latinas -
18 interracial -
adult dating friends -
adult friend finder -
adult love line -
adult movie zone -
all big cocks -
all reality pass -
all sites access -
a lucky stranger -
anal destruction -
ashley lightspeed -
asian love line -
ass parade -
ass to mouth angels -
bait bus -
ball honeys -
bangbros network -
bang bus -
bang match -
bare foot maniacs -
barely legal -
big and slutty -
big cock teen addiction -
big league facials -
big mouthfuls -
big naturals -
big tit patrol -
big tits round asses -
bikini hookups -
black cocks tiny teens -
boys first time -
boys gone bad -
brandi belle -
britney lightspeed -
bruno b -
busty adventuresc -
captain stabbin -
casting couch teens -
circle jerk boys -
coeds need cash -
college party dates -
college teens bookbang -
cumfiesta -
cum filled panties -
dana lightspeed -
desperately horny housewives -
dirty aly -
dirty schoolgirl -
easy drunk girls -
ebony love line -
erica lightspeed -
euro fuck toys -
euro sex parties -
evitas playhouse -
extra big dicks -
extreme asses -
extreme naturals -
facial humiliation -
faith lightspeed -
female pov -
first time auditions -
giants black meat white treat -
gigi lightspeed -
heather lightspeed -
heels and hoes -
her first throatjob -
hood hunter -
horny spanish flies -
im live -
in focus girls -
in the vip -
i spy camel toe -
jordan capri -
kinky lesbo -
lacey white -
latin love line -
lesbian teen hunter -
lesbo 101 -
lightspeed 18 -
lightspeed dvds -
lightspeed girls -
lightspeed sorority -
lightspeed tv -
lightspeed university -
lightspeed world -
little troublemaker -
lonely wives dating club -
mandy lightspeed -
man hookups -
meaty man movies -
men over 30 -
mike in brazil -
mikes apartment -
milf challenge -
milf hunter -
milf lessons -
milf next door -
milf whore -
miss mya -
moms creampie -
monsters of cock -
mr big dicks hot chicks -
mr chews asian beaver -
mr skin -
nikki grinds -
ox pass -
panties and fannies -
papi -
perfect dp -
pimp my black teen -
please bang my wife -
public invasion -
pussy ass mouth -
rachel 18 -
real brazil hardcore -
reality kings -
reality pass plus -
ronni tuscadero -
round and brown -
roound mound of ass -
sammy4u -
sapphic erotica -
see her squirt -
she got switched -
shemale hookups -
she takes it black -
shocking parties -
stacy bride -
street blowjobs -
street ranger -
sweet devon -
tawnee stone -
taylor little -
teen movie zone -
teeny bopper club -
terry lightspeed -
tgirl adventures -
tgirl island -
tgirls on girls -
the big swallow -
the pipe layer -
throat jobs -
tinys black adventures -
tranny surprise -
true twinks -
tug jobs -
vaginal cumshots -
vip crew -
we live together -
wild hot dates -
wives exposed -
xxx proposal -
xxx raimi -
pussy chompers -
8th street latinas -
18 interracial -
adult dating friends -
adult friend finder -
adult love line -
adult movie zone -
all big cocks -
all reality pass -
all sites access -
a lucky stranger -
anal destruction -
ashley lightspeed -
asian love line -
ass parade -
ass to mouth angels -
bait bus -
ball honeys -
bangbros network -
bang bus -
bang match -
bare foot maniacs -
barely legal -
big and slutty -
big cock teen addiction -
big league facials -
big mouthfuls -
big naturals -
big tit patrol -
big tits round asses -
bikini hookups -
black cocks tiny teens -
boys first time -
boys gone bad -
brandi belle -
brandy didder -
britney lightspeed -
bruno b -
busty adventures -
captain stabbin -
casting couch teens -
circle jerk boys -
coeds need cash -
college party dates -
college teens bookbang -
cumfiesta -
cum filled panties -
dana lightspeed -
desperately horny housewives -
dirty aly -
dirty schoolgirl -
easy drunk girls -
ebony love line -
erica lightspeed -
euro fuck toys -
euro sex parties -
evitas playhouse -
extra big dicks -
extreme asses -
extreme naturals -
facial humiliation -
faith lightspeed -
female pov -
first time auditions -
giants black meat white treat -
gigi lightspeed -
heather lightspeed -
heels and hoes -
her first throatjob -
hood hunter -
horny spanish flies -
im live -
in focus girls -
in the vip -
i spy camel toe -
jordan capri -
kinky lesbo -
lacey white -
latin love line -
lesbian teen hunter -
lesbo 101 -
lightspeed 18 -
lightspeed dvds -
lightspeed girls -
lightspeed sorority -
lightspeed tv -
lightspeed university -
lightspeed world -
little troublemaker -
lonely wives dating club -
mandy lightspeed -
man hookups -
meaty man movies -
men over 30 -
mike in brazil -
mikes apartment -
milf challenge -
milf hunter -
milf lessons -
milf next door -
milf whore -
miss mya -
moms creampie -
monsters of cock -
mr big dicks hot chicks -
mr chews asian beaver -
mr skin -
nikki grinds -
ox pass -
panties and fannies -
papi -
perfect dp -
pimp my black teen -
please bang my wife -
public invasion -
pussy ass mouth -
rachel 18 -
real brazil hardcore -
reality kings -
reality pass plus -
ronni tuscadero -
round and brown -
round mound of ass -
sammy4u -
sapphic erotica -
see her squirt -
she got switched -
shemale hookups -
she takes it black -
shocking parties -
stacy bride -
street blowjobs -
street ranger -
sweet devon -
sweet members -
tawnee stone -
taylor little -
teen movie zone -
teeny bopper club -
terry lightspeed -
tgirl adventures -
tgirl island -
tgirls on girls -
the big swallow -
the pipe layer -
throat jobs -
tinys black adventures -
tranny surprise -
true twinks -
tug jobs -
vaginal cumshots -
vip crew -
we live together -
wild hot dates -
wives exposed -
xxx proposal -
xxx raimi -
reel pass -
8th street latinas -
18 interracial -
adult dating friends -
adult friend finder -
adult love line -
adult movie max -
adult movie zone -
all big cocks -
all reality pass -
all sites access -
a lucky stranger -
anal destruction -
ashley lightspeed -
asian love line -
ass parade -
ass to mouth angels -
bait bus -
ball honeys -
bangbros network -
bang bus -
bang match -
bare foot maniacs -
barely legal -
big and slutty -
big cock teen addiction -
big league facials -
big mouthfuls -
big naturals -
big tit patrol -
big tits round asses -
bikini hookups -
black cocks tiny teens -
boys first time -
boys gone bad -