Re: OT: What to do with leftover boat money...


"Chuck Gould" <chuckgould.chuck@xxxxxxxxx> wrote in message
news:1194583490.099883.282130@xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
On Nov 8, 6:39?pm, BAR <Screw...@xxxxxxxxxx> wrote:
Short Wave Sportfishing wrote:
On Thu, 08 Nov 2007 17:33:23 -0800, Chuck Gould
<chuckgould.ch...@xxxxxxxxx> wrote:

$5/gallon fuel and $3/gallon fuel. $2000 is a significant number, but
it's only about a week or ten-days wages for a lot of folks these days
and won't drive that many dedicated boaters away from the pastime.

What world do you live in?

The one where a lot of folks make $100,000 per year. When the meidain
family income in the US is about $47,000 per year.

Your statistic includes the 15-20% of working families who live below
the official federal poverty level as well as "families" who are
retired and eeking along on social security (or who have very little
earned income but do very nicely living off accumulated assets).

Let's exclude the impoverished and the economically disenfranchised
and take another look, shall we? I can't imagine what world anybody
lives in where most two-worker familes earn an "average" of only
$47,000 a year. That's about 23,500 apiece, and to get down to a
figure that ridiculously low you have to include all the mini-wage
workers flipping burgers and stocking shelves at Walmart.

The nature of the discussion obviously limits the universe of incomes
to those associated with folks able to afford to enjoy boating as a
hobby.

$2000 is ten days' income for people earning $72,000 a year. If folks
with professional skills are earning substantially less than that in
your area, they ought to consider moving out west. A couple of
examples:
My niece, who will actually graduate from college next spring, is
already working her first full time, entry level job as an IT support
person and earning just under $50k, with generous benefits. My wife's
bank has to pay qualified clerical-level employees well over $1000 a
week in order to retain anybody decent, and none of the loan officers
earns less than six figures plus a five figure annual bonus. Jobs that
paid $50k 10 years ago are often paying double that or more in 2007.
(And should, checked the cost of living lately?) Your state or local
labor market may be different, but I know that wages in NYC (where my
daughter works) are substantially higher than even those in the
Pacific NW.

It's not unrealistic to posit that folks owning a boat that requires
any sort of substantial investment are typically grossing, (or at the
very least have "family incomes" of) at least $1400 a week.



That is not the average boater. They are the trailer boat crowd. Joe
Sixpac. They do not have $500 dockage a month. They are the blue collar
crowd making 35-50K a year, and have to put food on the table, gas in the
car and maybe get out and do a little fishing or water sports. Lots of the
country is 40-60% the average salary of the Metro Washington state region.
The Midwest, and lots of Virginia type areas, where a 4000 ft. sq. home
sells for $150-200K and people have to sweat the mortgage and taxes and
insurance. It is not really the fuel costs as overall the fuel has not gone
up in relation to the cost of crude or the cost of housing and food. And
government fees. Years ago, the average for all governments take of the
family income was 22% (1950's) now it is closer to 48%. And I see not
slackening of the increase of tax burdens. The doom and gloom reporters are
also killing any optimism that the people have in the economy. They is a
large financial meltdown in the home market. But that was another dot.boom
scenario. No real basis. Greater Phoenix new subdivisions were raising the
prices on homes 1000's of dollars a week. Now there are majority of homes
in subdivisions in foreclosure. The reason being greed by the builders and
easy credit by financial suppliers, like your wife's bank, to unsatisfactory
borrowers. Those loan officers who made 5 figure bonuses should be required
to repay them if they made the loan to a party that could not ever knowing
pay the rate after a 2 year lock! And the officers of the bank should be
held liable for all lost moneys! Incompetance to the max!


.

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