Don't know about you, but when I see articles like this and super strong boat prices (look at outrageous asking prices for 10-20yr old center consoles on thehulltruth...and then there is new boat prices), I get a bit gun-shy.
https://www.yachtingjournal.com/news...ls-four-665333
Former big boat captain turned superyacht broker, Mark Elliott, sold four brokerage vessels during the first quarter of 2019, closing for $48 million. Three of the boats moved in March.
Deals closed on M/Y Bella Una, a 127-foot Burger, as well as Christensen’s 164-foot M/Y Three Forks,124-foot M/Y Carte Blanche by Trinity, and 157-foot M/Y Carolina, a classic Feadship.
The strong economy and consumer spending confidence demonstrate the yacht market has definitely bounced back. A veteran 20-year broker with IYC, Elliott hasn’t seen this kind of activity since his strongest years, preceding 2008.
“It’s the Trump effect,” said Elliott. “People feel good about the economy which has been very robust the last few years.”
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Thread: Beware of this great economy?
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04-30-2019 11:37 AM #1Senior Member
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Beware of this great economy?
FTFD... i drive a slow 1968 41c381
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Re: Beware of this great economy?
It’s no longer the cost it’s how much a month. No worries happy days are here again. And we’re all going to get guaranteed minimum income!
"DON'T BELIEVE ANYTHING YOU READ OR HEAR AND ONLY HALF OF WHAT YOU SEE" - BEN FRANKLIN
Endless Summer
1967 50c 12/71n DDA 525hp
ex Miss Betsy
owners:
Howard P. Miller 1967-1974
Richard F Hull 1974-1976
Robert J. & R.Scott Smith 1976-present
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04-30-2019 12:38 PM #3Senior Member
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Re: Beware of this great economy?
Philosophically, I think minimum income is foolish. Pragmatically, give me my $1000/month instead of boomer politicians wasting it in government wars, welfare, medicare. Your average millennial is underemployed and can't afford to even buy a house, but the group of people that lived through the greatest economy in history can't understand why the youngsters foolishly embrace "socialism".
PS: Don't put words in the above sentence that are not there. Nowhere do I compliment or condone communism/socialism.FTFD... i drive a slow 1968 41c381
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Re: Beware of this great economy?
i don't think its that we can't understand them. think back to being 18-25 or so and pretend the local bar serves free beer to anyone under 25.
you know someone is paying for the beer, but as long as its not you its all good.
problem is, we will be the ones paying for it now.Jim
SALTY
1973 38' AFT CABIN
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05-01-2019 11:18 AM #5
Re: Beware of this great economy?
I would disagree that the average millennial is underemployed.
"Underemployed" implies that they are not being paid what they are worth.
When you take into account the poor quality of current public/higher education, lack of practical real world experience, and lousy social skills, I think the average millennial is being paid exactly what they are worth.Eric
1972 Uniflite Salty Dog "Sharon Jean"
https://72saltydog.shutterfly.com/
Preceded by a 1967 Hatteras 34C
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Re: Beware of this great economy?
I don’t know if that’s just a hipster Portlandia perception generated by the media or not really representative of millennial sin general. Just as an example I just sold 2 building lots contiguous with my family’s property just outside of Philadelphia. 3/4 acre lots nice area but typical 3/2 bedroom community. I was going to build myself but the realtor told me I couldn’t get more than 3-350k for the houses I’d be better just to sell the lots to a builder. The guy built a couple not impressive 3/2 crackerboxes with builder quality finish. Both sold in less than 30 days for over 500k to two early thirties couples. Both put over 100k extra in the houses to finish them off. They all work either in mid level management jobs and have combined income in the 250k range. 600k is a lot of dough for a first house but it seems to be the norm in the northeast anyhow.
"DON'T BELIEVE ANYTHING YOU READ OR HEAR AND ONLY HALF OF WHAT YOU SEE" - BEN FRANKLIN
Endless Summer
1967 50c 12/71n DDA 525hp
ex Miss Betsy
owners:
Howard P. Miller 1967-1974
Richard F Hull 1974-1976
Robert J. & R.Scott Smith 1976-present
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05-01-2019 12:47 PM #7Senior Member
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Re: Beware of this great economy?
I know quite a few very hardworking honest millennials with good jobs and disposable income. I think it has always been the same. 10% carry the remaining 90%. The millennials have some infected with the socialist leaning just like the boomers and the generation before them. Before we go blaming the boomers it was the boomers parents (the greatest generation) the elected FDR for 3 terms albeit under extenuating circumstances. The greatest generation was not free of socialist leaning people. I was formerly optimistic about America’s future but America has some real challenges ahead of it and so far we don’t seem to have the will to address them. Hopefully the millennials will do what previous generations (greatest included) have not and force our politicians to be a accountable.
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05-01-2019 01:49 PM #8Senior Member
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Re: Beware of this great economy?
It doesn't matter...even if a millennial is fully employed and paid well, the last 10+ years of zero/low (ZIRP) interest rates has PUNISHED people that save.
Try $20,000 a year to attend a state "average" school studying engineering (tuition +room/food). This is for in state residents. Out of state 40k.....a YEAR.
Boomers say "I worked full time in the summer and paid for college". HAHAHAHAHAHHAHA. And then people graduate with degrees and are underemployed. Many have useless degrees, but plenty of technical people are underployed. Oh yeah, $50-60k sounds like a lot out of school, but it's garbage when a house costs 400-500k and the person paid 80-100k for IN STATE tuition.
It will be interesting to see what happens to house prices as boomers begin to sell all the mcMansions that millenials don't want. Prices will likely crater.FTFD... i drive a slow 1968 41c381
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05-01-2019 02:16 PM #9Senior Member
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Re: Beware of this great economy?
I wonder how many people on this forum have children that are millennials. (sp?) And I wonder how many would describe their own millennial children in the disparaging terms commonly used?
Maybe that's other peoples' children. Their children are not typical millennials.