Economy ???

[CARL GUZMAN]

anyone doing anybetter out there ? or see an end to this madness?

[whaler23]

Why, is it keeping you up at night?

[CARL GUZMAN]

LOL yes i guess you can say that

[SeaEric]

We've had a pretty good year in boat sales on the Chesapeake. We've worked hard for it, but we did OK. I have heard from some guys in Ft Lauderdale that things have improved in the last few weeks. A broker I speak with in the south end of the Chesapeake in Virginia has had a good fall season, but has been quiet for a month or so.

I believe that most of the bad markets are regional. And Carl, where you are in Naples seems particularly hard hit. Geography does seem to matter. I know the Real Estate has got to stay put where it is. But if you can, I would suggest moving your boat to Ft Lauderdale to sell her. I believe that could perhaps make a difference.

Carl, are 30 year fixed rates dropping significantly yet? If it would make sense, I'd like to convert my 5-1 ARM (5.775% 3 yrs left to go) to a 30 yr. fixed.

[Trojan]

Hi Carl. Tons of homes for sale I have never seen so many for sale. Three marinas closed in my area and 2 changed hands. In our marina there was only 60% of the slips filled and 50 docks went up for sale. We have 600 plus docks. Lots of boats on the hard. Boats for sale everywhere. With the fuel prices like they are. I can't imagine what next year is going to be like. At all the party islands you never had a problem getting a dock. Was nice for us. No crowds, but even some of my drinking buddies never made it. I'll be in Naples around 12/21. Hope we can get together for lunch and a few drinks. Last time it was a little rushed.

BILL

[thoward]

Our issue in this part of Florida is lack of industry. A large part of our economy is based on real estate. The effects are far reaching and are working their way up. We are now seeing the developers go belly up. I read the R/E sales are back to 1997 levels. Too many folks were watching 'flip this house' and that ran the prices up. It looks like a good time to invest in R/E and hopefully things will turn back up after the election.

[SKYCHENEY]

Real estate is slow in Michigan as well. Unemployment here just hit 7.7% which is almost double the national average. Despite that, the marina that we stay in was full last summer except for just a handful of slips. While traveling in July, we ran into many of our dock neighbors at ports that were in excess of 100nm from our marina. I also know of several people who have purchased boats in the past couple of months. Some people are spending, but only on selected items. Farmers are doing well here with all of the new ethanol plants and a factory that makes military vehicles has also added on, but most other markets are way down.

Hang in there, Carl. Things will improve. 2008 is an election year after all. I will be on Marco Island again this coming Feb. Maybe we can get together for drinks or lunch or something. I'll keep you posted.

[Passages]

It looks like a good time to invest in R/E and hopefully things will turn back up after the election.

Really? I read we have not yet hit bottom.

Election or not, I believe there is enough uncertainty in the economy where we will not see a significant bounce. If we do, I think it will be short lived.

I'm considering FL retirement property. I'll be working for another 12 years but I'm thinking there may be another cycle of boom & bust during that time. Just not sure how to play that one. My gut is telling me to hold on to my cash.

[Passages]

ps: to the above - I'll hold on to my cash unless I find that screaming deal on a new 45-53 Hatt, Viking or Post. I can't go another season boatless.

[CARL GUZMAN]

When you guys are down call me for a beer it will be fun if I still have the boat well do a cruies? SeaEric I think rates may drop some more but not sure when you should pull the triger watching the 10yr bond usually helps .
Bottom is still out there ?
my Marina also sold this month?