Am I insane to be considering the purchase of a substantial boat in the economy we are in right now? Especially considering every pundit and bank president alike seems to be indicating a global recession. This past week marks the first time many of the worlds central banks (10 of them including the Fed) all raised interest rates simultaneously to quell inflation. The world bank noted these hikes would have a "disastrous effect on the global economy". Anxiety anyone?
What I do know is that high quality well maintained boats are in very short supply and people seem willing to pay top dollar to get them. Will that mentality persist as the markets get more shaky? I am looking for a very specific boat and when they come up they are typically sold in short order for near asking price. So, the question I have is whether anything changes if the markets suffer as so many suggest (not the cost of money as I am a cash purchaser). Will those higher end boats come down substantially over the next 6 months?
Will I buy now and then cry in my Wheaties (6 months from now) because I should have waited just a little longer??? Does anyone know a boat buyers therapist?
What I do know is that high quality well maintained boats are in very short supply and people seem willing to pay top dollar to get them. Will that mentality persist as the markets get more shaky? I am looking for a very specific boat and when they come up they are typically sold in short order for near asking price. So, the question I have is whether anything changes if the markets suffer as so many suggest (not the cost of money as I am a cash purchaser). Will those higher end boats come down substantially over the next 6 months?
Will I buy now and then cry in my Wheaties (6 months from now) because I should have waited just a little longer??? Does anyone know a boat buyers therapist?