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Has Watersports peaked?


hrybls

Have we seen the peak of watersports?  

120 members have voted

  1. 1. Have we seen the peak of watersports?

    • Yes, we have peaked
      34
    • No, we have not peaked
      28
    • We have Temporarily Peaked, but wait 5 years watersports will climb a higher mountain.
      60


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Just wondering the thoughts out there about seening the peak of water sports? With the price of gas so high and the fragile state of the U.S. economy with europe not far behind. Do you think we have seen the Peak of watersports?

I believe it probably has. Everyone & their Dog re-financed their house to buy a Bu, or another boat over the last 5 years and even used that money to fill up the boat and pay for insurance. Now with limited credit and equity available and Gas at high levels along with the "green" movement, I just do not see how we will ever get back to the "mania" we seen a few years back.

Dontknow.gif

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Agreed. With a caveat. If boat prices fall and gas prices with them (Possible good side effect of tanking worldwide economy) it would be cheaper to get into the sport than it has been. I would say it depends on the costs of comparable hobbies though. I California it doesn't matter. The ratio of boaters to actual water in the lakes seems to increase with worse and worse Winters. I blame Bush for that.

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I voted YES we have peaked because:

Gas prices will remain high.

The economy will take at least 12 more months for recovery to begin.

Boat prices have spiraled beyond what is reasonable.

Some, probably many, boat manufacturers will not survive this economic downturn.

Some, probably many, boat owners will have their boats repossessed during this economic downturn.

The boat market is saturated.

Credit to purchase boats will become much harder to get.

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Just my personal experience, but I've notice a lot more Bu's on The Chain (where I boat) in the past 2 years. I also know that despite the gas prices and economy, I skied more this year than ever before. I think it will pause momentarily until people get their priorities figured out, but they will make it work.

Boating may become more of a...I don't want to say "smarter person sport" but perhaps people who are smarter with their money. I am 25 and my sister is 28 and we share the boat. Neither of us make a lot of money, but we are smart about it. I still do a lot of fun things I just don't go "overboard" on stuff that doesn't matter. I don't drive an expensive car or own a giant house that I have to spend all my time and money fixing up just for the pleasure of saying "I have a 5000 sq foot house."

I didn't mean for this to turn into "what people are doing wrong with their money" my point is that it's not hard to do what you like to do.

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Just my personal experience, but I've notice a lot more Bu's on The Chain (where I boat) in the past 2 years. I also know that despite the gas prices and economy, I skied more this year than ever before. I think it will pause momentarily until people get their priorities figured out, but they will make it work.

Boating may become more of a...I don't want to say "smarter person sport" but perhaps people who are smarter with their money. I am 25 and my sister is 28 and we share the boat. Neither of us make a lot of money, but we are smart about it. I still do a lot of fun things I just don't go "overboard" on stuff that doesn't matter. I don't drive an expensive car or own a giant house that I have to spend all my time and money fixing up just for the pleasure of saying "I have a 5000 sq foot house."

I didn't mean for this to turn into "what people are doing wrong with their money" my point is that it's not hard to do what you like to do.

Good point, maybe it is just the peak of Wally's!

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Just my personal experience, but I've notice a lot more Bu's on The Chain (where I boat) in the past 2 years. I also know that despite the gas prices and economy, I skied more this year than ever before. I think it will pause momentarily until people get their priorities figured out, but they will make it work.

Boating may become more of a...I don't want to say "smarter person sport" but perhaps people who are smarter with their money. I am 25 and my sister is 28 and we share the boat. Neither of us make a lot of money, but we are smart about it. I still do a lot of fun things I just don't go "overboard" on stuff that doesn't matter. I don't drive an expensive car or own a giant house that I have to spend all my time and money fixing up just for the pleasure of saying "I have a 5000 sq foot house."

I didn't mean for this to turn into "what people are doing wrong with their money" my point is that it's not hard to do what you like to do.

Good point, maybe it is just the peak of Wally's!

We can all hope. I had an encounter with one but it's too complicated to get into... lets just say they should learn the right-of-way...and if they can't figure out the thier left from their right just look at the pretty green or red light up front!!! Tomato.gif

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Cost of materials & labor will have an effect as well. Oil is used in so much of what goes into manufacturing these boats, don't look for price drops because of that. The used market....that's a different story, but the cost of new boats I doubt will go down.

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Cost of materials & labor will have an effect as well. Oil is used in so much of what goes into manufacturing these boats, don't look for price drops because of that. The used market....that's a different story, but the cost of new boats I doubt will go down.

I'm not sure if the cost/value of used boats will drop much either. With such high prices of new boats and potential difficulty financing them, I would imagine used can hold a reasonable resale value. JMHO, I could be wrong.

Edited by gjsmith73
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I sure hope so. Maybe the economy will keep the wallies with the 32' cuddy cabin pulling tubers from powerturning on the butter and turning the lake into open ocean conditions.

Way to many retards on the lakes lately.

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I sure hope so. Maybe the economy will keep the wallies with the 32' cuddy cabin pulling tubers from powerturning on the butter and turning the lake into open ocean conditions.

Way to many retards on the lakes lately.

I doubt it. If the high gas prices didn't keep them off the water, the economy won't, either.

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Cost of materials & labor will have an effect as well. Oil is used in so much of what goes into manufacturing these boats, don't look for price drops because of that. The used market....that's a different story, but the cost of new boats I doubt will go down.

I'm not sure if the cost/value of used boats will drop much either. With such high prices of new boats and potential difficulty financing them, I would imagine used can hold a reasonable resale value. JMHO, I could be wrong.

It's possible, but there are a lot of factors. This will be a microcosm of other industries - people bit off more than they can chew & as result you'll see boats that will go back to the bank, that will drive prices down.

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Keep in mind there are always people that have more money than sense. We all vouch for the family aspect of this sport do we think others don’t feel the same way? The wallies will always be out there just a fact

Boat sales while they have slowed imho will continue to grow and evolve. The prices of new boats are getting very expensive and beyond the means of many. The used boat market while difficult at this time will take off first once the market stabilizes as you’ll be able to get slightly used boats for ridiculous prices that before just weren’t within their means.

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There are plenty of cheep boats out there... and soon to be plenty of cheep used ones, with the way the economy is going.

Gas is expensive, but it isn't thaaaat expensive relative to other activities. Probably peaked for now, but I don't think I'll sign up for the elitist approach that this is a smart, or rich person's sport. (since I don't fit either of those criteria) ;)

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We peaked like 25 years ago!

I only noticed the poor not dropping their 14' Trackers in this season, the rest of the "regular" boaters were out all year, equal if not more than last.

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There are plenty of cheep boats out there... and soon to be plenty of cheep used ones, with the way the economy is going.

Gas is expensive, but it isn't thaaaat expensive relative to other activities. Probably peaked for now, but I don't think I'll sign up for the elitist approach that this is a smart, or rich person's sport. (since I don't fit either of those criteria) ;)

Yeah, I don't think that it will be elitist either. But I do see people around here dumping toys like I've never personally witnessed. At every point in the economic scale too, "It's just too expensive" or "we need the cash" or "we need out from under the payment" being the common reasons. I live in an area where keeping up with the Jones's & having the latest, greatest toy to show off is almost a way of life. These people will find the next big thing to do that with once things turn around. In the mean time they'll help drive used prices down, because a lot of those toys will go back to the bank & those that don't help to further flood a saturated used market.

Whether or not it's peaked....I think that a lot depends on how much regulation we see in the future on lending.

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There are plenty of cheep boats out there... and soon to be plenty of cheep used ones, with the way the economy is going.

Gas is expensive, but it isn't thaaaat expensive relative to other activities. Probably peaked for now, but I don't think I'll sign up for the elitist approach that this is a smart, or rich person's sport. (since I don't fit either of those criteria) ;)

Yeah, I don't think that it will be elitist either. But I do see people around here dumping toys like I've never personally witnessed. At every point in the economic scale too, "It's just too expensive" or "we need the cash" or "we need out from under the payment" being the common reasons. I live in an area where keeping up with the Jones's & having the latest, greatest toy to show off is almost a way of life. These people will find the next big thing to do that with once things turn around. In the mean time they'll help drive used prices down, because a lot of those toys will go back to the bank & those that don't help to further flood a saturated used market.

Whether or not it's peaked....I think that a lot depends on how much regulation we see in the future on lending.

Great time to be picking up some new toys Yes.gif

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I believe, in AZ at least, that we have seen the peak of watersports for some time. Every one and their bro bought a cheap home and then refinanced to buy all the "toys" that we are currently seeing everyone using (lifted trucks, toy haulers, quads, bikes, boats, etc...) Now we see all these "toys" for sale as people start to see that they are upside down in their homes and can no longer afford them Crazy.gif Makes me happy that I'm frugal ;) I may not have the newest Bu at the lake or the latest and greatest truck to pull it their, but both are nice and both are pd for Thumbup.gif Fuel and insurance are cheap compared to payments and interest

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I believe, in AZ at least, that we have seen the peak of watersports for some time. Every one and their bro bought a cheap home and then refinanced to buy all the "toys" that we are currently seeing everyone using (lifted trucks, toy haulers, quads, bikes, boats, etc...) Now we see all these "toys" for sale as people start to see that they are upside down in their homes and can no longer afford them Crazy.gif Makes me happy that I'm frugal ;) I may not have the newest Bu at the lake or the latest and greatest truck to pull it their, but both are nice and both are pd for Thumbup.gif Fuel and insurance are cheap compared to payments and interest

Couldn't have said it better. When it comes to toys I live by the rule that if you can't pay cash you can't afford it! I may not have the newest bu but it's paid for.

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Hrybls, i don't think it has peaked, it may slow down for awhile, but the popularity will ultimately increase. It would be a mistake to underestimate the ability of the american people to get out of this hole they have put themselves in and come out even stronger.

I think the question we have to ask is, how much longer are you going to subject us to that hideous avatar?

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Almost everyone financed their boats with a HELOC or a straight loan. Since most don't have a lot of equity left that leaves straight loans. I don't see many people paying the rates that will be available for awhile.

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I definitely think we will see a change in how people buy boats. Less expensive boats, more economical boats, more people joining ski clubs instead of buying their own boat, or maybe joint ownership of a boat. Lets face it, we all need a 3rd or 4th to get out on the lake. We are going to have to spread the expenses around a bit if we're going to keep doing this stuff.

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I believe, in AZ at least, that we have seen the peak of watersports for some time. Every one and their bro bought a cheap home and then refinanced to buy all the "toys" that we are currently seeing everyone using (lifted trucks, toy haulers, quads, bikes, boats, etc...) Now we see all these "toys" for sale as people start to see that they are upside down in their homes and can no longer afford them Crazy.gif Makes me happy that I'm frugal ;) I may not have the newest Bu at the lake or the latest and greatest truck to pull it their, but both are nice and both are pd for Thumbup.gif Fuel and insurance are cheap compared to payments and interest

Couldn't have said it better. When it comes to toys I live by the rule that if you can't pay cash you can't afford it! I may not have the newest bu but it's paid for.

I agree to a point... but I got a loan for mine even though I had the money to pay for it. Seems silly to me to to pay cash when I can get a loan for 4.75% and take the money I would have spent and buy tax free muni bonds and make 6.5% .

Edited by kentjina
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I say watersports peaked 25 years ago.....I had the benefit to grow up on a lake at my grandparent's cabin. Everyone in my granfather's generation skied consistently, it was just what you did at the lake. In my mom's generation, fewer of them skied. In my generation, aside from me and a couple other of my friends none of the "kids" skied.....they all tubed, but sorry, I don't consider that a watersport.

Combine this trend toward "lack of interest" with the fact a good watersports boat cost $50 grand minimum and gas is nearly $4.00 a gallon, I can't see how you can think watersports hasn't peaked.

The barriers to entry preventing people from getting into watersports are just too great. First, you have to live within resonable distance to a body of water, Second, you have to have, or be close with someone who has a boat.

I'm glad I'm fortunate enough that the stars aligned and I was able to get into watersports (and that I'll be able to pass that on to my family), but I feel that watersports will always be a niche market.

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the fact a good watersports boat cost $50 grand minimum and gas is nearly $4.00 a gallon, I can't see how you can think watersports hasn't peaked.

The barriers to entry preventing people from getting into watersports are just too great. First, you have to live within resonable distance to a body of water, Second, you have to have, or be close with someone who has a boat.

Isn't everywhere within a couple hrs of a body of water? If not, then why would you live there? :unsure: Who says you need a $50k boat to enjoy being on the water? Could this be one of the issues today - that everyone needs to have "the best"... There are plenty of great boats for 1/2 that much.

Watersports are simply evolving - great time to buy a boat ;)

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