New boats- What bad economy?!??

Discussion in 'Sound Off' started by Southsider1, Aug 29, 2020.

  1. swampbuck

    swampbuck

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    Zero debt and great credit rating, I think I will stay that way until things go back to normal


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  2. DirtySteve

    DirtySteve

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    I just took advantage of the 2.5% interest rates and refinanced my home. The bank did not want to see my check stubs from when I was furloughed in july and my deposit was half. The asked me to present previous month I told them the previous 2 months my salary was cut 20% and it was a lower amount. They said no problem give us a statement from February and when your pay is back to normal August 15th send us that statement.
     

  3. mbirdsley

    mbirdsley

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    Should be plenty of that federal excise tax money available for conservation next year. With the way tackle has been moving. Glad I can make various jigs and sinkers. Cabelas in Saginaw had a lot of st. croix and carbon lights still in stock. Reels not so much though. Decent tackle still there but, there are holes. eBay and the online sellers still have a lot of tackle available.


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  4. U of M Fan

    U of M Fan Premium Member

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    Pine Grove?
     
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  5. birdhntr

    birdhntr

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    I hope your right.
    Eaton laid people off,GM engineering layed off a 100 according to a costumer,Dupont layed some folks off,my buddy was asked to bring his tools in (carpenter),and Saturday my Monday job canceled and I was told I might want to go find work for a couple weeks.
    This was all last week.I am optimistic in general but I feel things are going on without notice and the results of the pandemic are down the road.10 years ago when companies in Michigan layed off workers it was in the news.
     
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  6. tincanary

    tincanary

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    Yep that's the one. Empty the entire weekend.
     
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  7. DirtySteve

    DirtySteve

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    Restaraunts by me have 50 percent capacity and even then you walk right into places and sit down...places that we used to wait 40 mins for a seat. Many are offering a limited menu not their full menu.

    If a brand new restaraunt ran out of chicken there is a good chance they didnt order the proper amount not knowing their customer base. ...or it wasnt available in the quantity they asked for and they havent been around long enough to have extra stock.

    If you are only allowed to seat people in half your seating capacity how can any restarunt be rocking? Every one of your rush our times throughout the week
    Has limited sales.
     
  8. Southsider1

    Southsider1

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    The current rates are great for refinancing but, for new home purchases, buyers are now paying a huge premium for homes so it takes some of the luster off the low interest rates. Unlike during the last financial crisis where you had low interest rates and homes selling at a huge discount.


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  9. Southsider1

    Southsider1

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    I agree with you but I know plenty of restaurants and bars that don’t follow any of the orders. Many cities and counties have law enforcement that refuse to enforce the orders and the establishments follow suit.


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  10. Shoeman

    Shoeman Mods

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    Not too many are willing to drag a 60K 5'er or a 150K pusher down 15 miles of marginal roads.

    Those are cement campers. LOL
     
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  11. tincanary

    tincanary

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    We were camping in hammocks. I've been trying to talk my wife into getting one but she thinks it makes you bear food lol. I told her they don't care if you're on the ground or hanging from trees.
     
  12. DirtySteve

    DirtySteve

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    Its not law enforcement that would be enforcing business requirements. It would likely be the health dept. You are taking the risk if you dont comply. I dont see any restaraunts in my neighborhood or up around our cottage that havent complied with the 50% capacity rules. I havent been to more than a half dozen places but they all seem to either remove tables or remove chairs from every other booth. Havent seen a single place allow full seating.
     
  13. Southsider1

    Southsider1

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    You are correct about local police but the governor's office said Michigan State Police will enforce violations of COVID-19-related laws, such as executive orders and Michigan Department of Health and Human Services orders, just as they do any other violation of the law.

    I think a lot of the resort towns on the west side just feel that, if they don’t push the requirements, they won’t survive as they make the vast majority of revenue from summer tourism.

    Back to original topic- I saw a couple taking possession of a new Chaparral this morning. I googled the boat and it was 120k. Couple was driving a brand new Raptor. I’m guessing the couple was in the mid to upper 20s. Man, I was looking at 10-20 year old boats back when I was in my 20s. Good for them but I wouldn’t have slept at night worrying about those payments at that age.




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  14. bowhunter426

    bowhunter426

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    Monthly payments baby! Finance that boat for 20 years, pay $150k in intrest, and have the lifestyle you deserve.

    That said, in my upper 20's when we were dinks, we paid cash for a new boat, truck, snowmobiles and dirtbikes. My wife's income was "fun money" and boy did we have fun. Looking back, we probably should have invested more than we did, but YOLO.
     
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  15. 22 Chuck

    22 Chuck

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    We all are already paying w/ higher prices on everything. The money just gets more worthless. But what about our kids/grandkids.

    I have gunpowder labelled less than $4/can.. Now over $25 and some $30 for the same can. The bubble is so much bigger than 1931 now but I know you all know that.
    How long will the soup line be, OR will there even be a soup line??