The Boat Market Bubble is bursting...

[ScarabMike]

Ive been looking to buy another Scarab or Yamaha even a Sea-doo. The prices out there are out of control. I have a couple of Yamaha skis, but the people on FB trying to lowball you is crazy. I found a nice 212SS, but I really want a 190. I dont want to get into a bigger truck. I love my Jeep.

 

[Ronnie]

I’m starting to see used boats with more reasonable asking prices but there are still a few that are Covid priced. See the screenshots below.

I saw a news story that explained that the mass exodus from California is not real and I lean towards agreeing. I say this because in my neighborhood north of San Jose and south of Oakland and San Francisco several homes have sold recently and quickly for $100k+ over their asking price. A guy down the street just moved in and paid $150k over asking. If more people are leaving than moving to CA shouldn’t it take longer to sell a home and shouldn’t the prices be lower? We are experiencing record high home sale price increases this year.

We don’t have extreme weather in the SF Bay Area but about an hour ago i felt an earth quake for the first time in a long time, 4.8 magnitude 10 miles outside of Stockton about 30 miles from me). No biggie if you are used to it but possibly terrifying if you are not.

 

[Mesa50]

Long as you keep em in Texas I will be fine I think Michigan is too cold for them.

I heard that the Californians are going to buy up all the waterfront property from Grosse Pointe all the way up to Port Sanilac, and build a giant yurt housing community all the way up the shoreline. The community guidelines say that only biodegradable self-dissolving boats can be launched in the Detroit River, St Clair river, Lake St Clair, and Lake Huron. Governor Whitmer has declared the entire community to be 2nd home vacation property, and thinks she heard a 99 year old woman coughing nearby, so no one is allowed to go there anyway. That’s what I heard.

 

[Neutron]

I had bought the wooded 1.25 acre lot next to my property for only 20 grand a few years ago and it was on the market for years. In the past few months i have been approached multiple times with offers from 50 to 60 grand. I will never sell my property, its my forever home and i love it. I am into my house and all the 2.5 acres for only 217k since 2016 and its now worth over 350k. I am still working on purchasing another acre on the other side of my property.

Nice lots are hard to find around here. Houses for sale here with 1/4 acre lots are selling in a few days at stupid inflated prices.

 

[bthessel]

I’m starting to see used boats with more reasonable asking prices but there are still a few that are Covid priced. See the screenshots below.

I saw a news story that explained that the mass exodus from California is not real and I lean towards agreeing. I say this because in my neighborhood north of San Jose and south of Oakland and San Francisco several homes have sold recently and quickly for $100k+ over their asking price. A guy down the street just moved in and paid $150k over asking. If more people are leaving than moving to CA shouldn’t it take longer to sell a home and shouldn’t the prices be lower? We are experiencing record high home sale price increases this year.

We don’t have extreme weather in the SF Bay Area but about an hour ago i felt an earth quake for the first time in a long time, 4.8 magnitude 10 miles outside of Stockton about 30 miles from me). No biggie if you are used to it but possibly terrifying if you are not.
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That 2009 AR230 seems low actually. I wouldn’t sell mine for that, I would want 20-24k

 

[HangOutdoors]

The 212s is absurd, 23% over MSRP???

 

[Ronnie]

The 212s is absurd, 23% over MSRP???

The 212s is being sold by my local dealer. I bet they get their asking price. Next heat wave is this weekend so it may be sold by Saturday.

 

[HangOutdoors]

@Ronnie In the next life I am coming back Rich! or will marry for money

 

[suke]

I wish the Californians would stop moving to TX and screwing our market up here. I talked to a CA lady yesterday that paid $50k over for a house she never saw. Just her friend walking around inside as she Facetime'd her. Freakin insane. Then she goes on to tell me her parents just moved here, her sister moved here, and 5 of her friends all moved here from CA within the last 6 Months. That's 8 family units just from talking to one freakin person.

Happened to NC. Sadly it's basically all but lost at this point. It's only a matter of when. I fear TX is about 2 decades behind NC. Eventually we'll likely have to move to FL. Which isn't the end of the world, just sad to see our home go the direction it is. I'm hoping it doesn't get bad enough while I have kids in school, so I need us to keep the good fight as much as we can for another 18 years. Then we can move on, and they can turn it into the wastelands they left from.

 

[Ronnie]

I don’t understand how a thread about the boat market bubble bursting turns into another California bashing thread. I suspect many people bashing California have never been here. I understand state pride but …

 

[ScarabMike]

I was stationed there, and go for training every now and them. Was in Cal city about 2 years ago. Nothing but homeless everywhere, trash everywhere, and taxes are out of control. No thanks. But I agree, California has some of the most beautiful landscapes in the world. I miss walking through Joshua tree.

Hey If I buy that 192, how about doing me a solid, and towing it half way here, Ill buy fuel and hotel stay! LOL

I don’t understand how a thread about the boat market bubble bursting turns into another California bashing thread. I suspect many people bashing California have never been here. I understand state pride but …

 

[ScarabMike]

Back on topic... I found this 2016 Scarab for 31k


And this 2016 212SS for 42k


I may jump on the Yamaha if they go down a couple K.

 

[HangOutdoors]

@ScarabMike Prices on those seem reasonable.

 

[anmut]

The 212s is absurd, 23% over MSRP???

Yeah but it "comes with trailer"

 

[the MfM]

YamahaMike doesn’t have the same ring to it.

 

[ScarabMike]

I think you may be right, lol.

YamahaMike doesn’t have the same ring to it.

 

[the MfM]

I don’t understand how a thread about the boat market bubble bursting turns into another California bashing thread. I suspect many people bashing California have never been here. I understand state pride but …

....Meanwhile in San Fran...

 

[adrianp89]

I don’t understand how a thread about the boat market bubble bursting turns into another California bashing thread. I suspect many people bashing California have never been here. I understand state pride but …

While it's been quite some time since I have been there, their policies are enough to make me never want to move there (or visit).

 

[mwalker4]

My son lives in Mountain View next to Googles campus, my Daughter lives in Boston next to the TD Garden, one sister in law lives in Islamorada FL, another sister in law in Denver, Father in law Manhattan, and I live on 20 acres 35 miles north of Columbus Ohio. They all have their advantages and disadvantages and I love travelling between all of them. Que up this Land is your Land or God Bless America. I do have many concerns that we have entered into an asset bubble fueled by cheap money that will end up with many people getting hurt eventually in boats, cars, houses etc. But we have been through it many times before.

 

[josh195]

Long as you keep em in Texas I will be fine I think Michigan is too cold for them.

They're not exactly moving to Indiana either. However they are investing in real estate around here though. Some lady from CA bought a couple of buildings in a small town near me to rent out the street level to businesses and turn the upstairs into apartments.