Boats on Used Victoria and Other Areas

Fishalot said:
Given the $ size of mortgages in recent years I think the impact will be seen way before 10% rates. Just my opinion.
Click to expand...
Yep! What he said...
 
Trust me. It’s happening already.
They allowed us to borrow to the max based on the low interest rates and then rates shot up and bam! Screwed.
 
500k mortgage in 2020 was 1900 a month, now at current rates is close to 3k.

That extra 1k a month could be someone’s boat payment, morrage payment, truck payment. If you were already up to the tits month to month as many are somethings got to go.

I’m actually considering dumping my TSF and investments on my mortgage. I haven’t crunched the numbers yet but I think it might be a better strategy
 
wildmanyeah said:
500k mortgage in 2020 was 1900 a month, now at current rates is close to 3k.

That extra 1k a month could be someone’s boat payment, morrage payment, truck payment. If you were already up to the tits month to month as many are somethings got to go.

I’m actually considering dumping my TSF and investments on my mortgage. I haven’t crunched the numbers yet but I think it might be a better strategy
Click to expand...
Very smart and wise, I would say, what you will make on investments, these days, in this market will defiantly not be worth it, putting on the mortgage and getting it paid off to avoid the raising interest, great idea! Yes, you will need to consider the taxes of pulling it out...
 
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Too bad this forecast recession will be doubly bad with our nation's fiscal policies fuelling it
 
Aces said:
Too bad this forecast recession will be doubly bad with our nation's fiscal policies fuelling it
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Fuel? now that is another topic with a bleak outlook... Where is that rainbow or silver lining?
 
wildmanyeah said:
500k mortgage in 2020 was 1900 a month, now at current rates is close to 3k.

That extra 1k a month could be someone’s boat payment, morrage payment, truck payment. If you were already up to the tits month to month as many are somethings got to go.

I’m actually considering dumping my TSF and investments on my mortgage. I haven’t crunched the numbers yet but I think it might be a better strategy
Click to expand...

This is exactly not wise at this time, given how the market is performing over all, assuming you're at or near asset's acb. Folks have been riding cheap money for a while, and the markets have been brutal this year so selling an over depreciated asset for what will likely be an 18 month rate crunch doesn't make sense, unless you're over a barrel. You have to look further down the road and remember the cure for inflation is high prices, as the supply chains level off we will see correction back towards normalization of the economy.

I do agree that retiring mortgage debt should absolutely be a priority. Just don't do it in a rash manner.
 
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ab1752 said:
This is exactly not wise at this time, given how the market is performing over all, assuming you're at or near asset's acb. Folks have been riding cheap money for a while, and the markets have been brutal this year so selling an over depreciated asset for what will likely be an 18 month rate crunch doesn't make sense, unless you're over a barrel. You have to look further down the road and remember the cure for inflation is high prices, as the supply chains level off we will see correction back towards normalization of the economy.

I do agree that retiring mortgage debt should absolutely be a priority. Just don't do it in a rash manner.
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Thanks for the advice, I’m locked in at 2.29% for 3 more years but I’m just looking ahead at what’s comming. Someone else I talk to said to not to as well because rates are probably going to come down by then.

Still current rates while May be closer to historical they will be a big hit.
 
SpringFever552 said:
FOMO and trying to keep up with the Jone's is what have people in their situations, feeding frenzy of new cars/ trucks /rv/ boats / homes new new new,
SMH...
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Some of that was trying to stay in your bubble with the family doing leisure stuff and getting an rv, trailer, boat etc to do so.

Back to boats.
 
Easy financing down in the US only 5.24% ;)

$2394.51 a month for 25 years. I almost fell of my chair! The power of compounding.

Twin 300 yamis but used…..

2020 Jeanneau NC 1095 Fly, $0 down, $2394.51 - $399,980​

seattle.craigslist.org

2020 Jeanneau NC 1095 Fly, $0 down, $2394.51 - boats - by dealer -...

Designed for life on the sea, the NC 33 is very open to the exterior. Everything has been carefully considered for comfortable, harmonious cruising. Entirely secure, this new NC features wide,...
seattle.craigslist.org
 
kaelc said:
Easy financing down in the US only 5.24% ;)

$2394.51 a month for 25 years. I almost fell of my chair! The power of compounding.

Twin 300 yamis but used…..

2020 Jeanneau NC 1095 Fly, $0 down, $2394.51 - $399,980​

seattle.craigslist.org

2020 Jeanneau NC 1095 Fly, $0 down, $2394.51 - boats - by dealer -...

Designed for life on the sea, the NC 33 is very open to the exterior. Everything has been carefully considered for comfortable, harmonious cruising. Entirely secure, this new NC features wide,...
seattle.craigslist.org
Click to expand...
Going in deep in debt for a boat is very unwise
 
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